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Tata loses growth momentum over digital-driven Reliance

Venerable Indian conglomerate hit by slump in auto and steel businesses

Smoke rises from Tata Steel's plant in the Netherlands. Tata Steel reported a net loss of 44 billion rupees in the quarter ended in June, dragging down Tata Group's financial performance.   © Reuters

TOKYO -- Tata Group, India's biggest conglomerate by revenue, is stuck in the doldrums. Its flagship car and steel businesses, which made Tata famous around the world thanks to high-profile overseas acquisitions, have become a drag on the group over the past two years.

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