主题：【原创】塔塔汽车可能要日子不好过 -- 晨枫

NEW DELHI—Ratan Tata has transformed Tata Group into the world's best-known Indian company, the owner of Jaguar cars, the Pierre Hotel in New York and Tetley tea.

But in the twilight of his career as chairman of the $67.4 billion conglomerate, Mr. Tata, 73 years old, is frustrated that he hasn't been able to expand more in his native India. He says bureaucratic delays, arbitrary regulatory decisions and widespread corruption have thwarted his domestic ambitions in such sectors as steel, power, aviation and telecommunications.

When Mr. Tata took charge of Tata Group in 1991, India was embracing reforms that promised to reduce the government's role in business and end the so-called License Raj, the intricate system of regulations that governed almost every significant commercial activity. Liberalization did occur in many areas, from tariff reduction to relaxed restrictions on foreign investment, helping to power gross-domestic-product growth of more than 8% since 2003.

But 20 years after the reforms began, New Delhi still exerts tight control over large swaths of the economy. All too often, Mr. Tata and other critics say, regulators are picking winners and losers through their decisions, either by delaying certain projects and green-lighting others or by freeing up natural resources for some companies at the expense of others.