Benefits derived as a result of the above efforts
By careful selection of the advanced engineering and technology portfolio, the Company intends to capitalise and bookshelf the developed technology for incorporation into the future products for making them more exciting and more attractive to the end customers. Similarly the Company wishes to mitigate all future risks related to technology by timely having appropriate emerging technology on Powertrain, Safety, etc to meet and exceed all future emissions and vehicular safety norms. The Company is also in a stronger position today with front loading the digital product development and validation which has resulted in operational efficiency, better quality and shorter lead time to market.
Major technology absorption projects undertaken during the last year include:
Major Technology imports include:
D. FOREIGN EXCHANGE EARNINGS & OUTGO
Activities relating to exports
The Company exported 49,922 vehicles during the year.
Export initiatives such as goods, products and services exported include:
- The Company executed large and prestigious order in Myanmar for the MoD and other large bus orders in the Middle East and procured a large defence vehicle order in Africa with MINUSMA.
- The Company debuted in markets Philippines and expanded its presence in Myanmar including new 3S facility.
- The Company participated in key motor shows and conclaves around the world such as the Johannesburg International Motor Show (JIMS), Indonesia International Motor Show (IIMS), Geneva International Motor Show, Algiers Motor Show, Manila Motor Show and the Africa Conclave.
- New products customized for key international customer segments were launched – including the Xenon RX, a lower cost variant in South Asia and the Xenon XT, a premium variant for South Africa.
- Ace Ex2 was launched in Sri Lanka, Bangladesh and Nepal. Prima was launched in Sri Lanka and South Africa. The Xenon was launched in Australia.
- Whilst Tata Sumo was the best-selling vehicle nameplate, Safari Storme witnessed a strong debut in Nepal. The Company is the 3rd largest Passenger Vehicle brand in Nepal in terms of market share.
Development of export markets
The Company is continues to focus on introducing various products in existing markets as well entering new markets in ASEAN, Africa, Russia and Latin America.
Export Plans
The Company plans to focus on growing the export business aggressively in identified geographies by offering customer centric products and strong after sales support.
On behalf of the Board of Directors
CYRUS P MISTRY
Chairman
Mumbai, May 29, 2014