Govt showers praise on Tatas for JLR deal

"My congratulations to the Tatas and entire corporate world as they have held India's private sector flag high. The world is looking at India," says the commerce minister.

The Government on Wednesday showered rich compliments on the Tata Group for acquiring Jaguar and Land Rover marque car brands and holding India's flag high in the highly competitive international business.

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"My congratulations to the Tatas and entire corporate world as they have held India's private sector flag high. The world is looking at India," Commerce and Industry Minister Kamal Nath said on in New Delhi.

He said homegrown Indian firms have demonstrated to the global business how competent and progressive they have become even in the midst of a slowdown.

"The most important thing is that world is recognising India's credibility". The Tata Motors has signed the Jaguar and Land Rover (JLR) deal with Ford on Tuesday evening, which is estimated to be valued between 2-2.5 billion dollars.

While Mahindra and Mahindra was also in the race, the keenly-watched contest was limited to the Indian companies in its final stage.