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International Research Journal of Modernization in Engineering Technology and Science

( Peer-Reviewed, Open Access, Fully Refereed International Journal )
Volume:05/Issue:03/March-2023 Impact Factor- 7.868 www.irjmets.com
AN ANALYSIS ON INTERNATIONALIZATION OF INDIA

COMPANIES-TATA MOTORS
Samip Mashru*1, Rajesh Baria*2, Amit Kaswan*3, Dr. M. Sumetha*4
*1,2,3Sem 4, MBA In International Business, PIMR, Parul University, Vadadora, India.
*4Assistant Professor, FMS (MBA), PIMR, Parul University, Vadadora, India.
ABSTRACT
In the past few years, Tata Motors succeeded by exploiting international opportunities. Its percentage of
revenue from international operations has increased from 9% in 2016 to 79.80% in 2018. Hence its strategy is
worthy of study.
‘Flexible Strategy Framework’ is used to analyse the strategy of Tata Motors which evolved to gain its
international presence in the automotive manufacturing industry. This framework is an attempt to manage
change, along with the consideration of continuity forces in the organization. The ability of the firm to integrate
continuity and change forces effectively has made the firm competitive in the international market.
The organization is continually doing innovations to keep itself ahead of the competition. This study is a novel
attempt to explore linkages between internationalization and competitiveness using the framework of flowing
stream strategy.
Keywords: Tata Motors, Jaguar, Land Rover, Internationalization, Global Financial Crisis, Indian Automobile
Industry, Global Automobile Industry, Growth, Data Analysis.
I. INTRODUCTION
Tata Motors Limited (TML) is one of the India’s largest Original Equipment Manufacturers (OEMs) offering an
extensive range of integrated, smart and e-mobility solutions. TML’s Commercial Vehicles (CV) offerings include
sub-1 tons to 55-tonne Gross Vehicle Weight GVM) trucks and small, medium, and large buses and coaches. The
NEW FOREVER series is part of TML's Passenger Vehicle (PV) offering and embodies the IMPACT 2.0 design
language throughout automobiles and utility vehicles. It was created using cutting-edge, environmentally
friendly technologies. TML is also playing a leading role in proactively shaping the electric mobility landscape in
the country. The business, formerly known as Tata Engineering and Locomotive Company (TELCO), was
established in 1945 with the purpose of producing locomotives. In a 1954 joint venture with Daimler Benz AG
that lasted until 1969, the company produced its first commercial vehicle. With the introduction of the Tata
Mobile in 1988 and the Tata Sierra in 1991, Tata Motors joined the passenger car industry and became the first
Indian manufacturer to be able to create a competitive homegrown vehicle. Indica, the first entirely indigenous
Indian passenger automobile, was introduced by Tata in 1998. The Tata Nano, the cheapest car in the world,
was introduced in 2008. In 2004, Tata Motors bought the South Korean truck maker Daewoo Commercial
Vehicles Corporation. Since the firm created it for the 2008 acquisition of Jaguar Cars and Land Rover from
Ford, Tata Motors has served as Jaguar Land Rover's parent company.
The two main divisions of Tata Motors are the South Korean commercial vehicle producer Tata Daewoo and the
British luxury car manufacturer Jaguar Land Rover (which produces the Jaguar and Land Rover automobiles).
Tata Motors has joint ventures with Stellantis that produce automotive parts and automobiles with the Fiat
Chrysler and Tata brands, as well as a joint venture with Hitachi to manufacture passenger cars, engines and
other construction equipment for domestic market, and a JV with Cummins Inc. USA for the design and
manufacturing of diesel engines. Private equity company TPG made a $1 billion investment in Tata Motors'
electric vehicle division on October 12, 2021.
In addition to having auto production and vehicle plants in Argentina, South Africa, the United Kingdom, and
Thailand, Tata Motors also has them at Jamshedpur, Pant Nagar, Lucknow, Sanand, Dharwad, and Pune. It has
facilities for research and development in South Korea, the UK, Spain and Jamshedpur, Lucknow, and Pune in
India. Tata Motors have operations in India, the UK, South Korea, South Africa, China, Brazil, Austria, and
Slovakia through a string global network of subsidiaries, associate companies and Joint Ventures (JVs),
including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.
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Tata Motors is traded on the National Stock Exchange of India, the New York Stock Exchange, and the BSE
(Bombay Stock Exchange), where it is a part of the BSE SENSEX index. As of 2019, the company is ranked 265th
among the largest corporations in the world by Fortune Global 500.Natarajan Chandrasekaran was named
chairman of the Tata.
Tata Motors was founded in 1945, as a locomotive manufacture. Tata Group entered the commercial vehicle
sector in 1954 after forming a joint venture with Daimler-Benz of Germany. After dominating commercial
vehicles in Indian market, Tata Motors entered in passenger vehicle market in 1991 by launching Tata Sierra.
Tata launched Indica in 1998 which was initially criticized by auto analysts but its excellent fuel economy,
powerful engine, and aggressive marketing strategy made it one of the best-selling cars in history of Indian
automobile industry. Tata Motors ways to international business such as: joint-venture, subsidiary, exporting,
franchise, and dealer distribution. Tata Motors used Joint-venture or associate companies to touch Europe
market (Ibef, 2010). They associated with Hispano Carrocera in Spain and become Tata Hispano.
Tata Hispano produces coach, big buses, large cars, and regional transport (Auto, 2009). In 2009 Tata Motors
bought 100% stake of this company (Indian Info Tech, 2010). With a product that has also existed, the company
is attempting to tap into the existing market. The least risky option is this one, making it the safest move.
Typically, businesses employ this tactic to win over the clients of their rivals. When Tata Motors entered the UK
market by acquiring Jaguar Land Rover, they employed this technique. Nevertheless, Tata Motors did not just
focus on the new product lines that they could generate from the two firms above; instead, Tata Motors
continued to produce the Tata Indica in the market (Tata Motors, 2003)
In December 2022 Tata Motors had the Market cap of Rs. 11,17,481.89 crore.
Overview of Market
Use the company's current product and introduce it to a new market. This approach is frequently used by MNEs
to expand their domestic and global markets. A few instances of market development include entering a new
country, targeting a different market, and using the product for a different purpose (Graham and Allan, 2008).
Tata Motors has expanded its market abroad, entering markets such as South Korea in 2004, Spain in 2005,
Thailand in 2006, the UK in 2008, and many more. In those markets, Tata Motors sells its current line of
vehicles, including automobiles, trucks, and buses. Tata Motors intends to expand its market by establishing
new businesses in developing nations including Indonesia, the Philippines, and Turkey.
Tata Motors is one of the few firms in the world to provide its customers with a wide range of products, with
millions of TML vehicles on the road throughout the world. Since 1961, we have grown internationally through
exports. The company is well-established in a number of passenger car segments and exports to nations
including Nepal, Bhutan, Bangladesh, and Sri Lanka. Tata Motors provides a broad range of commercial vehicles
that are tailored for local requirements and uphold the highest standards for quality, safety, environmental
standards, and user comfort. The Tata Motors group now has a global network of over 8,800 touch points and is
present in over 125 countries.
With 9 million vehicles on Indian roads, Tata Motors is one of the leading producers of passenger cars and a
market leader in commercial vehicles. Tata Motors works to create ground-breaking new products that capture
the imagination of GenNext customers, with design and R&D centres based in India, the UK, Italy, and Korea.
Tata Motors now holds a market share of almost 9%, up from a meagre 4.8 percent in FY20. With sales up 69
percent in FY21, the company is currently working to write an incredible turnaround. The Rs 1.05 lakh crore
automaker's fortunes in the Indian market had declined over the previous ten years, leading some to question
its importance in the $104 billion domestic auto market, before it started staging a rapid recovery.
Tata Motors is currently India's third-largest automaker, enjoying a market share of well over 9 percent in the
world's fourth-largest auto market, up from a meagre market share of 4.6 percent in 2016 and 4.8 percent in
2020. The company sold 222,025 passenger automobiles in FY21, up 69 percent from the same time the
previous year. In contrast, the nation's sales of passenger vehicles decreased by 6.2 percent during the fiscal
year. According to the Federation of Automotive Dealers Association, the corporation held 9.16 percent of the
domestic market in April, up from 8.77 percent the month before.

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Growth of Company
A company paying dividends is generally a good sign. Well established companies offer dividends back to its
shareholders while high growth companies usually do not pay dividends since they reinvest the profits back in
the business. If a dividend paying company stops paying dividends, then that is a big red flag. Dividend per
share is better metric compared to looking at just the dividends because DPS takes into account the number of
shares as well. Tata motors posts 18% growth in passenger vehicles segment, EV sales grow by 39%. Tata
motors announced that it sold 48,289 passenger vehicles in January 2023, registering an 18% sales growth as
compared to the same month a year ago when it retailed 40,942 units. The number includes Tata Motor’s
domestic and international passenger vehicles sales, as well as electric vehicles too.
In the domestic market, it sold 47,987 units of passenger vehicles, including electric cars. This marked an 18
per cent sales growth as compared to January last year when it retailed 40,777 units of passenger vehicles. The
automaker claims to have shopped 302 passenger vehicles last month to international markets, up by 83 per
cent from the same month last year when it exported 165 units. Mom sales also improved by 20 per cent as
against 40,045 units sold in December 2022.
Meanwhile, the automaker has increased the pricing of its offering like the Tata Tiago, Tata Punch, Tata Tigor,
etc. The automaker announced that this price hike comes on the back of the increased overall input costs. The
auto company claims that a 1.2% price hike on every vehicle has been implemented based on weighted average
basis. The company has been absorbing a significant portion of the increased costs on account of regulatory
changes and rise in overall input costs and is hence passing on some portion through this hike, Tata Motors said
in a statement. Tata motors is not the only carmaker that announced a price hike in 2023. Earlier in January, its
rival brand and India’s top car maker Maruti Suzuki raised prices of its cars by an average of 1.1 per cent across
its models, blaming similar cost pressures.
Tata Motors reported revenue of around 2.8 trillion Indian rupees (or about 3.4 billion U.S dollars) in the 2022
fiscal year. In 2019, Tata was named the most valuable corporate brand in India. Tata Nexon tops the charts
with 15,568 units sold in January 2023. Sales increased 13 per cent from 11,816 units sold in January 2022. It
was also a Mom growth of 29 per cent from 12,053 units sold in December 2022. The important annual result
items, a comparison with sector rivals, and yearly results for the previous five years are all included on Tata
Motors Ltd.'s Yearly Results page. Rs 47,923.59Cr. Rs 398.27Cr. Rs -1,390.86Cr. Non-Promoter Aggregate Share
(Lakhs) Non-Promoter Holding Average (%) EPS (Rs.). The company is set to record the highest growth in its
history and its overall annual growth is expected to be roughly 20 per cent in 2022-23.
About major Companies in the Industry
 Jaguar Land Rover
Since 2008, JLR has been a member of the Tata Motors Group and has a joint venture with Chery Automobile
Corporation to produce some models, including powertrains in China. JLR is working with the BMW Group to
produce the next generation of electric drive units and has strategically collaborated with Waymo to create the
self-driving Jaguar I-Pace (EDUs).
 Force Motors
Force motors was formerly known as Bajaj Tempo Ltd. Founded in 1958, it is located in Akurdi, a Pimpri-
Chinchwad neighbourhood of Pune, India. They manufacture three wheelers, multi utility and cross-country
vehicles, light commercial vehicles, tractors and now heavy commercial vehicles.
 Ashok Leyland
Ashok Leyland is a commercial vehicle manufacturing company based in Chennai, India. In 1948, Ashok Motors
was set up in what was then Madras, for the assembly of Austin Cars. The Company’s destiny and name changed
soon with equity participation by British Leyland and Ashok Leyland Commenced manufacture of commercial
vehicles in 1955. For over five decades, Ashok Leyland has been the technology leader in India’s commercial
vehicle industry, moulding the country’s commercial vehicle profile by introducing technologies and product
ideas that have gone on to become industry norms.

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Product Profile
By introducing modular architecture, Tata motors shifted from their “many platform” strategy to a “do more
with less” mentality, allowing them to provide more distinctive goods on the same platform. This is shown in
their launches they have made for CV, PV, luxury sedan, SUV, and EV product lines, which allows for a quicker
time to market and higher scale advantages.
 Commercial Vehicles
INTRA – V10 & V20
Tata INTRA trucks are based on TML’s new “Premium tough” philosophy for CVs and blend elegance and visual
grandeur with toughness and dependability. Their optimized engine and fuel efficiency contribute to a power-
packed performance.
ULTRA
With an unparalleled blend of SUV-like comfort, truck-like performance and the profitability of a light CV,
ULTRA Business Utility Vehicles were created to adapt to shifting consumer tastes in the light CV category.
PRIMA
The new smart Tata PRIMA is a long-distance vehicle with the best power, fuel efficiency, safety, and reliability.
Its enhanced functionality and globally integrated design elevate it to the level of “Global Smart Vehicle”.
 Passenger Vehicles
ALTROZ
The ALTROZ sets the Gold Standard for hatchbacks with its futuristic design, advanced platform. Thrilling
performance, smart technology and tastefully designed interiors. Its world class safety has been certified with
the 5-star Global NCAP rating.
HARRIER
The Harrier flaunts a daring new look that is a compelling combination of eye-catching exteriors, welcoming
interiors, and 14 design upgrades thar perfectly balance its commanding attitude with the unmistakable
refinement of a high-end SUV.
NEXON
With its high-strength steel frame, new BSVI- complaint petrol and diesel engines, iRA connected tech platform,
tech-driven protection, electronic stability, 6-speed drive, dual front airbags, rain-sensing wipers, and many
other distinctive features, the all-new Nexon combines the functionality of an SUV with the style of a sports
coupe.
TIAGO
The Tiago 2020 is characterized by a confident, experienced, and sporty feel thanks to its IMPACT 2.0 design
language construction. It comes in six vibrant colors and has 10 new special functions to meet the needs of
clients. It also enhance a fantastic driving experience with a 4-star Global NCAP safety certification.
TIGOR
The IMPACT 2.0 design language of TML’s line-up of compact sedan models served as inspiration for the new
Tigor’s assured, modest, and executive-focused styling.
Electric Vehicles NEXON EV
The Nexon EV is a high-performance, connected vehicle and the first electric vehicle (EV) to use advanced
ZIPTRON technology. It has a lithium-ion battery with a 300+ km capacity that powers an AC motor with
exceptional efficiency. A superior driving experience is made possible by the vehicle’s acceleration of 0-100
km/h in 9.9 seconds, its 312 km of anxiety free range, its 30.2 kWh battery pack, its 129 Ps power, 245 NM
torque, and its 1-hour fast charging, as well as its roomy interiors, Hanman sound management system, and its
enhanced connectivity with 35 mobile apps.
EXTENDED RANGE TIGOR EV- XE+, XM+ AND XT+
The Tigor EV’s increased range provides higher driving range, low cost of ownership, better connection, sedan-
like comfort, and zero emissions. The automobile is fitted with safety features including dual airbags and an
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anti-lock brake system, and its dual drive modes-” Drive” and “Sport”-enable peak performance even in
conditions of extreme ambient temperature.
II. LITERATURE REVIEW
[Suma Athreye, Sandeep Kapoor] The internationalization of Chinese and Indian firms— trends,
motivations and strategy*
Significant outward foreign direct investment flows and worldwide mergers and acquisitions have been key
features of China's and India's recent business evolution. We outline the quantitative and qualitative patterns of
internationalisation activity of Chinese and Indian firms, identify factors that drive these firms to invest abroad,
and describe the internationalisation strategies they have adopted to set the stage for the papers in this ICC
special issue 18:2 (2009).
[Rajshekhar (Raj) G. Javalgi, Patricia Todd, EladGranot] The internationalization of Indian SMEs in B‐to‐
B markets
The study aims to investigate the impact of market orientation on the international performance of Indian SMEs
in the business-to-business market, evaluate the potential moderating impact of environmental uncertainty,
along with market orientation, on SMEs' performance, and discuss implications to help SME owners/managers
in their efforts to successfully expand internationally in volatile markets
[Sundar Parthasarathy, Kirankumar S. Momaya& Shishir K. Jha (2016)] Internationalization of Indian
Firms: An Exploratory Study of Two Firms from the Tyre Industry, Journal of EastWest Business
Academics and professionals alike have been interested in the ongoing globalisation of Indian-based
companies. India does not hold a particularly significant position in the global tyre market. According to the
typology outlined in the essay, however, two Indian enterprises have made dramatically different
internationalisation decisions. This article uses a case study research approach to highlight the origins, goals,
and actions of these two companies in their early internationalisation efforts. The results also show that
companies first develop strong market positions through their delivery capabilities, then shift their focus to
brand development, which is followed by the search for input capabilities.
[Chinmay Patnaik, B. Elango] The Impact of Firm Resources on the Internationalization and
Performance Relationship: A Study of Indian Manufacturing Firms
Businesses from emerging markets have been entering foreign markets during the past ten years. The new
phenomena of emerging multinational businesses (EMNEs) have forced academics in the IB field to address it,
particularly the connection between internationalisation and performance of the EMNEs. In order to contribute
to the body of literature, this paper examines how company resources affect the relationship between
internationalisation and performance. An empirical investigation of a sample of 787 manufacturing companies
in India reveals a non-linear link between success and internationalisation. The results also show that this
relationship is moderated by a firm's capacity for cost effectiveness and marketing.
[Vikas Kumar, Ajai S. Gaur] Internationalization of Indian Firms: Regionalization Patterns and Impact
on Performance
We look into the performance and trend of internationalisation of Indian enterprises. First, we go over the
regionalization pattern that has emerged over time in the globalisation of Indian manufacturing and service
companies. The effect of globalisation level on the financial performance of Indian enterprises is then
objectively tested. We also examine how membership in business groups affects the link between
internationalisation and performance. We discover that over time, Indian outbound FDI has shifted from
underdeveloped to developed economies. Also, the degree of internationalisation of Indian businesses is
positively correlated with their success, with service businesses benefiting from it more than manufacturing
businesses do. Membership in a business group lessens the benefits of internationalisation on firm
performance.
Background of the Study
In the context of the Indian pharmaceutical business, this study investigates the nature of the relationship
between performance and degree of internationalisation (DOI-P). The study makes explicit claims about

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correlations between DOI and performance in the various stages of international expansion using the stages
model of internationalisation. These results diverge from those of comparable studies on emerging markets
that sampled a wider range of industries. When generalising the DOI-P association across situations,
researchers should exercise caution. When it comes to influencing the DOI-P for specific enterprises, industry
context occasionally has more influence than national context.
Problem Statement
Ratan Tata is credited with turning the enormous Indian conglomerate Tata Group from a haphazard
assemblage of companies into an agile organisation that is prepared to take advantage of new opportunities to
grow. The Tata Group, which owns businesses in practically every worldwide market, is exceptionally swift and
effective in growing its global presence1. With respect to a diverse set of business operations, including energy,
engineering, consumer goods, IT, communications, and others2, the corporation had a combined market
valuation of more than $26.2 billion.
Source Problem
The source problem is associated with the liberalisation of the Indian economy at the beginning of the 1990s
along with the worries of Ratan Tata about the future of his company had a tremendous influence. Although the
company could boast of its achievements in expanding its global geographical presence, uncertainty as to the
direction in which to go remained. Such uncertainty was largely associated with the lack of development of
facilities in India, which can limit Tata Groups’ local expansion.
The problem seems even larger if to mention that a trillion dollars in it sector investment is needed to fund the
infrastructure to overcome poverty, which suggests that Tata Group’s perspectives are far from bright. Another
issue pertains to the absence of a person that will manage the business after Ratan Tata; this issue can make the
company deprived of an effective leader that can help Tata Group expand and achieve new heights.
Secondary Problems
Short-Term Issues with Development and Retention of Talent at Tata
According to the case study regarding Tata Group, the unsatisfactory environment for work coupled with
disparities in income forced local workers to leave their jobs in a search for better conditions overseas.
Moreover, Ratan Tata experienced was often pressured into having a committed team of managers and leaders
who will successfully resolve the problem of the lack of talent in the company as well as its retention in the
business strategy of Tata Group.
Long-Term
It can be hypothesized that the diversification of Tata Group’s operations has expanded too wide, with the
company losing its focus. It should have placed emphasis on leading industries that usually generate more
profit. Ratan Tata has been unsuccessful in streamlining the operations of his company and now has to face
long-term challenges of an eventual successor carrying the weight of the company.
Analysis
With the shortages in the Indian talentand poor working conditions in cities such as Jamshedpur, and poor
working conditions in cities such as Jamshedpur, Tata Group experiences a tremendous lack of resources for
efficient operation. Since 2006 when Tata acquired Corus, Tata Steel have been experiencing pressure in the
aftermath of the recession. With the production of steel in the UK hitting bottom due to volatile demands from
different industries, it is impossible for Tata to achieve growth.
The overall management of the company can be regarded as lacking direction and focus. On the one hand, Ratan
Tata is vocal about not throwing all resources when it comes to investing in one business while on the other, he
is likely to give in to the intention to reach international growth. The overdiversification of the business
resulted in negative implications such as debt and resentment from employees associated with downsizing.
Such an unfavourable set of circumstances can only be improved by paying more attention to good
management and looking ahead in the future.

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III. OBJECTIVES OF THE STUDY
 To study the distribution channel of Tata Motors.
 To conduct sales of the cars of Tata Motors.
 To analyse the customer’s satisfaction by conducting research.
 To increase Customers and revenue
 To improve risk management after internationalization
 Increasing competitiveness is also a benefit of internationalization
 Cost saving and access to new technologies.
IV. RESEARCH METHODOLOGY
 Research Design
The Study is quantitative in nature and secondary data is used. The study is based on data on
internationalization of Indian firms with respect to TATA motors.
 Sources of data
The study is based on secondary data. Data regarding TATA motors were collected from their official company
website, research papers, various publication of government of India, magazines, journals and articles.
 Data Collection Method
The data was collected from various published articles of government of India. The data regarding
internationalization of Indian firms was taken from various published material in official company website,
from government official portal. The data selection method was secondary data in nature where data was
collected from published articles. The data was collected by following methods-
• Internet
• Books
• Published Articles
• Journals
• Newspaper Articles
Data Analysis
Fig 1: Year-wise continuity force of Tata Motors

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Fig 2: Year-wise change force of Tata Motors
Fig 3: Profit and loss incurred (in Rs Crore)

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Fig 4: Number of Vehicles(export)
Fig 5: Growth in commercial vehicles

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Fig 6: Growth in passenger vehicles

V. CONCLUSION
Tata Motors has become competitive in the market as a result of its excellent integration of continuity and
change factors, it can be said. The competing forces of continuity and change are being actively integrated by
Tata Motors. To stay one step ahead of the competition, the company constantly implements innovations. Its
growth in sales and net profit can be attributed in large part to the continuation of technology and shifting
customer interaction requirements. Its competitiveness in the global market has risen as a result of the
company's capacity to enhance product features, sales and service offers, operational flexibility, and customer
happiness.
Your company can access a vast array of prospects by going global. Trading globally may strengthen your
company and increase its success, revenue, and profitability. Global business expansion has a lot of advantages
overall. In conclusion, this advancement may allow for firm innovations, improvements, and efficiency in their
services, goods, and overall business operations.
VI. REFERENCES
[1] researchgate.net
[2] Largest Automobile Manufacturer, Biggest Automobile Company in India (tatamotors.com)
[3] Tata Motors | Business | Tata group
[4] Tata Motors - Wikipedia
[5] Tata Motors | Automobile (ibef.org)
[6] Tata Set To Post Highest-Ever Growth, Growth Likely To Be 20% In FY23: Tata Chairman N
Chandrasekaran (msn.com)
[7] (PDF) Global Strategies in the Automobile Industry (researchgate.net)
[8] Gupta, N. (2022). Cross Border Merger & Acquisition a wealth creating proposition: An exploratory
case study of Tata Motors and Jaguar Land Rover (Doctoral dissertation, Dublin, National College of
Ireland).
[9] Garg, S. (2019). Internationalization of Tata Motors: strategic analysis using flowing stream strategy
process. International Journal of Global Business and Competitiveness, 14(1), 54-70.
[10] Malagihal, S. S. (2021). Strategic Options for Automobile OEMs of Indian Origin to have Sustained
Competitive Advantage: A Case of Tata Motors. International Journal of Global Business and
Competitiveness, 16(2), 139-152.
[11] Hertenstein, P., & Alon, I. (2022). A learning portal model of emerging markets multinationals. Global
Strategy Journal, 12(1), 134-162.

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International Research Journal of Modernization in Engineering Technology and Science

AN ANALYSIS ON INTERNATIONALIZATION OF INDIA

www.irjmets.com @International Research Journal of Modernization in Engineering, Technology and Science

www.irjmets.com @International Research Journal of Modernization in Engineering, Technology and Science

www.irjmets.com @International Research Journal of Modernization in Engineering, Technology and Science

www.irjmets.com @International Research Journal of Modernization in Engineering, Technology and Science

Fig 1: Year-wise continuity force of Tata Motors

www.irjmets.com @International Research Journal of Modernization in Engineering, Technology and Science

Fig 2: Year-wise change force of Tata Motors

Fig 3: Profit and loss incurred (in Rs Crore)

www.irjmets.com @International Research Journal of Modernization in Engineering, Technology and Science

Fig 4: Number of Vehicles(export)

Fig 5: Growth in commercial vehicles

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Fig 6: Growth in passenger vehicles

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