Tata Group Planning to Invest USD 2 Billion in Super App Tata Neu to Boost Digital Business

Tata Group, which is involved in business ranging from automobile to software, plans to invest two billion dollars (about Rs 16,500 crore) in its super app Tata Neu to increase digital business. This will help the Tata Group strengthen its digital business, address technology gaps and meet new spending needs.

Bloomberg News की Report It has been told that this investment will be done in two years. Tata Group has also asked Tata Digital to find ways to increase the valuation of the super app. A Tata Group spokesperson declined to comment. Tata Digital did not respond to queries sent by Reuters. Tata Group launched the e-commerce super app in April last year. On this, there is facility from buying apparel to booking air tickets. Through this, Tata Group plans to compete with Amazon and Flipkart in the fast growing market of e-commerce.

At the end of last year, it was reported that the Tata Group was planning to open 100 stores across the country to sell the products of the American company Apple, the maker of the iPhone. Tata Group company Infiniti Retail, which runs consumer electronics store chain Croma, will open these stores in shopping malls and a few other locations and will be an authorized reseller of Apple. Apart from this, the Tata Group also had plans to buy the factory of Apple’s contract manufacturer Wistron for about Rs 5,000 crore.

Apple has set a target of increasing India’s share in the total production of its iPhone to 25 percent. For the company, this figure is currently around seven per cent. Apple A few years ago, iPhone was started assembling in the country through Wistron. Apple exported iPhones worth more than $2.5 billion from India between April and December last year. Last year, the company started assembling some models of its new iPhone series in India. The central government has approved incentives for two companies Foxconn and Padget Electronics at the end of last year under the Production-Linked Incentive (PLI) scheme.