OREANDA-NEWS. October 17, 2012. With the equipment leasing market in India presently estimated at Rs20,000 crore and expected to grow at an annual rate of 25-30 percent over the next few years, Tata Capital, through its wholly-owned subsidiary Tata Capital Financial Services (TCFSL), has entered into a business partnership agreement (BPA) with Century Tokyo Leasing Corporation of Japan (TC-Lease), an affiliate of the Mizuho Financial Group, to offer leasing solutions through a separate leasing division in TCFSL - Tata Capital Leasing Solutions (TCLS). This comes as the next step after having signed the letter of intent in April, 2012 in Japan.

The services proposed to be offered under TCLS would include a full spectrum of leasing solutions from plain vanilla to complex structures, across diverse industries and for all equipment such as infrastructure facility, information and communication equipment, plant and machinery, banking equipment, construction equipment, medical equipment, corporate aircraft, power plants, wagons, furniture and office set-up systems.

Under the BPA, the leasing division proposes to launch Japan Desk, a unique customer-oriented concept. Japan Desk will be represented by senior officials of TC-Lease who will be based in India as part of the leasing division. The primary responsibility of Japan Desk will be to source business from Japanese companies based in India and offer innovative solutions for asset financing and asset life cycle management.

Speaking at the occasion, Praveen P Kadle, managing director and CEO, Tata Capital, said, “TC-Lease is one of Japan’s leading and experienced business leasing firms. The partnership with TC-Lease gives a further boost to the business of Tata Capital with leasing added to its bouquet of high quality financial services. TC-Lease brings its rich experience in asset life cycle management and the scope of cross-selling opportunities with Japanese companies present in India. The market penetration and extensive network of Tata Capital will strengthen the profile of the alliance. Tata Capital is committed to offering comprehensive solution-oriented products and services that create value for the customers’ businesses.”

Also speaking at this occasion, Shunichi Asada, president and CEO, Century Tokyo Leasing Corporation, said, “We are pleased to partner with Tata Capital to offer leasing services in India. By entering India with Tata Capital, TC-Lease has strengthened its international presence. Our experience in the field of leasing solutions and Tata Capital’s extensive network in India would help provide the right financing solution and guidance to Japanese and other companies in India.”