Tata Motors announced today it would go ahead with its planned investment worth INR3,000 crore during the fiscal year in order to foster growth even with the Indian economy slowing down.
According to Tata Motors Senior VP Commercial Passenger Vehicle Business Unit Ankush Arora, in an interview with PTI, said, "As of now, there is no change in our plan. We will continue with our game plan of investment that we had planned during the beginning of this fiscal and we will continue to stay with that investment." This was the response provided to a question if the current economic slowdown would affect their INR3,000 crore investment plans.
He added, "We will certainly tighten up our belts and try to be smarter in our investments. We will not be delaying any of our projects which we are working on, which calls for such investment."
Arora further said, "We are facing a challenging situation today, but basic fundamentals of the business are very strong and I think it's just a matter of time for us to bounce back and be a valuable player in the market."
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