Tata to Invest $5 Mln in Israel University Technology Fund
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Tata Industries Ltd. signed an agreement with Tel Aviv University to invest $5 million in a fund as the Mumbai-based company’s new chairman seeks to boost investment in innovation and technology.
Tata Industries is part of the $100 billion Tata Group, which spent more than $2 billion, or about 2 percent of group revenue, on research and development in 2012-2013, spokesman Mukund Rajan said April 26. Spending will probably increase, given Chairman Cyrus Mistry’s focus, he said.