UK-based auto maker Jaguar Land Rover is owned by Indian business conglomerate Tata group, which acquired it from Ford in 2008. While there was opposition initially to Tatas acquiring these marquee British brands, the company has since then scripted a turnaround. Addressing the World Economic Forum (WEF) Annual Meeting, Cameron said Britain has chosen to embrace foreign investments and was also working on improving trade with countries in Asia and Americas.
Also Read: Optimistic on India; 2014 to be better than 2013, says Nissan
Upbeat about the future of UK economy, the Prime Minister said the key challenge before European countries is how to make good of the global scenario. Noting that European countries have a choice today, Cameron said, "If we act now, we can be assured of the benefits of the next phase of globalisation ... and we must not fail." "People say when East wins, West loses and when people lose, machines win. I don't subscribe to such a pessimistic view.
"In fact, if we make right decisions, things will be good for everyone. Some outsourced jobs can be brought back. We can do more to ensure people get jobs," he said.
Stating that a long term plan to safeguard Britain's economy has been worked out, Cameron said measures in this regard include reducing taxes, lowering immigration, delivering good education and ensuring job creation.
"There is a chance that some of the jobs can be brought back to Britain, from food processing to fashion, from car manufacturing to computers. Jobs are being brought to Britain by Indian companies. Britain has more exports of cars than imports. "Some companies are planning to shift manufacturing jobs from other countries to Britain and the employee costs are also becoming competitive, he added.
Emphasising the need to focus more on renewable energy and protect the environment, Cameron said: "We should look at what shale gas has done to America". European leaders should understand the kind of boost that shale gas can give to their economies, he added.
Tata Motors stock price
On January 24, 2014, Tata Motors closed at Rs 370.50, down Rs 12.5, or 3.26 percent. The 52-week high of the share was Rs 405.00 and the 52-week low was Rs 252.10.
The latest book value of the company is Rs 59.47 per share. At current value, the price-to-book value of the company was 6.23.
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