He said that he sees the automaker in becoming a world class brand in the next ten years catering to the specific needs of its customers. Tata conceded that the company at present is below par with other international players but it has the advantage of economies of scale in some segments of the market.
Tata said that due to the high cost of inputs like automotive transmissions, the company has found it tough in developing high class technology. The high import tariffs on these crucial components have also played its part in making it economically impossible for the company to import them.
The company has decided to develop these components on its own, a process which is time consuming and not its main area of focus. But Tata is determined to develop international class automobiles with good finish to compete with top international brands. Tata wants the custom duties on import of vehicles and crucial inputs to be brought down as these imports are crucial ingredients in the finished product.
Tata reveals that if the tariff barriers are reduced, it may acquire some products from abroad if they fit in Tata's product portfolio. This would reduce the company's time and cost on developing the products themselves.
Tata revealed that its joint venture with British firm Jaguar Land Rover will help the company on the engineering and research and development front. The two companies could launch joint engine products to improve economies of scale and cut costs, but they would have separate sales and brand positioning strategies.