Within the first 10 days of 2008, Ratan Tata, the magnate behind India's $72.8 billion Tata Group, made a reported $2 billion bid for Ford's Jaguar and Land Rover brands and unveiled its long anticipated $2,500 "People's Car" called "Nano." India's largest conglomerate made a clear statement that Indian business is not just an outsourcing ghetto. It wasn't the first time that Tata the man, the fifth generation of his family to run the company, had demonstrated his global savvy. In the 1990s, when he took the helm of the company, its trucking unit was enduring the biggest losses in Indian history. Since then, through a series of international acquisitions (Tetley Teas, steelmaker Corus), the 70-year-old mogul has transformed the company into a mosaic of 100 diverse businesses, with more than half of the company's revenue coming from non-Indian operations.
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