New Delhi: Looking forward to more than double its revenues to USD 150 billion (about Rs 6.64 lakh crore) in the next five years, Tata Group will invest up to Rs 1.2 lakh crore across different sectors in the domestic market.

Tata Industries Managing Director Kishor A Chaukar said, "We have become a significant player globally in each of the sectors that we are present in. In the next five years, the pace of growth of the group will continue... The current investment assessment for the next five years is around Rs 1.1 lakh crore to Rs 1.2 lakh crore."

Tata Industries is one of the investment arms of Tata Group. The Tata Group, which has over 90 operating companies, will put in half of the planned investment in power sector, while the other significant portions will be in steel and automobile sectors.

This investment has been planned essentially for the Indian market and it will be pumped in across various sectors like power, steel, automobiles, telecommunications and chemicals, he said while announcing the ambitious roadmap for doubling the turnover of the group in less than five years from now.

Chaukar said the group has already invested about Rs 70,000 crore in the last three years and Rs 1.2 lakh crore would be in addition to this.

When asked about the expected revenue of the group after the investment will be made, Chaukar said, "It will be more than double in less than five years. I think it'll be around USD 140 billion to USD 150 billion."

The group has expanded to nearly USD 68 billion at present from about USD 8 billion 10 years ago and it will maintain such growth, he added.

Asked about the mode of funding this investment, he said it will be a mix of internal accruals and debt.

The Tata companies clocked overall revenue of USD 67.4 billion (around Rs 3.19 lakh crore) in 2009-10. Out of this, about 57 per cent was contributed by the domestic businesses.

Elaborating on its investment plans, Chaukar said: "The major sector will probably be the power as we are constructing an Ultra Mega Power Project in Gujarat and it requires quite a substantial amount. About half of the planned investment, that is Rs 50,000 crore-Rs 60,000 crore will be by Tata Power in the next five years."

The other significant investment will be in the steel sector, for which the group has earmarked an investment of Rs 35,000 crore, over and above Rs 15,000 crore to Rs 16,000 crore that has already been invested, he said.

"Besides, Rs 12,000 crore will be invested by Tata Motors and Rs 8,000 crore-Rs 10,000 crore will be in the telecommunications division," he added.

Asked whether Tata Group is looking for further acquisition, Chaukar said as and when opportunities come we will look at it.

The group has operations in over 80 countries across six continents and its companies export products and services to 85 countries.

The group, which employs around 3.95 lakh people across the world, is present in seven sectors -- communications and information technology, engineering, materials, services, energy, consumer products and chemicals.

The major Tata group entities include Tata Steel, Tata Motors, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Indian Hotels and Tata Communications.