TATA deal is further evidence of advancing India-UK business partnership

London, Mar.27 : The sale of the UK-based luxury car brands, Jaguar and Land Rover by Ford to India's Tata Motors for 2.3 billion dollars, has been described by the UK-India Business Council, as an outstanding example of Britain's open economy.

UK India Business Council Chief Executive Sharon Bamford commented: "The success of Tata Motors in purchasing UK-based Jaguar and Land Rover is an outstanding example of the UK's open economy and its ability to attract offshore investment and talent.Cross border investment between the two countries has been marked by many significant deals in recent years. Vodafone's acquisition of Hutch and Tata's previous acquisition of Tetley and more recently Corus, are leading examples of this.

This further demonstrates the company's confidence and commitment to the UK and is a positive move for UK-India business relations," Barnford added.

"We hope that these big deals are a signal to smaller companies both in the UK and India, of the potential of cross border investment, and pave the way for more open markets in the future," he said.

UK-India Business Council Chairman Lord Karan Bilimoria said: "Tata's purchase of Jaguar and Land Rover is only the latest example of the newfound confidence of Indian companies.

Less than two months ago, I sat in the new Tata Nano, and I witnessed history in the making. Indian companies are growing more confident in the global economy, and with this deal the country is on the move like never before."

ANI