Tata Global targets $5 bn revenue

Tata Global Beverages (erstwhile Tata Tea) is targetting a revenue of $5 billion, its Chairman Ratan Tata said today.

"We will have to meet the target of $5 billion to move up the value chain and increase presence in the high-end business," Tata told shareholders at the company's AGM here.

"This will be done through acquisitions and organic growth," he said.

Tata said the roadmap for Tata Global was to become a beverages company and food products which have nutritious value. "We have also introduced ayurvedic products," he said.

About the joint venture company with Pepsico, he said the entity would help distribution and increase the marketing reach of Tata Global products.

Tata said the company would not enter the carbonated drinks segment.

"We will also focus on new geographies", he said.