Mumbai: Tata Motors will be aggressively looking at developing new markets and assembly bases. The company is looking at China, South Africa, Thailand and both East and West Europe to establish a meaningful presence in selected international markets. 

“During the year, Tata Motors has been vigorously pursuing the expansion of its overseas business,” Tata Motors chairman Ratan Tata has said in the company’s latest annual report. 

Pointing out the cyclicality of the automotive sector, Mr Tata added that the company was taking steps to ensure viability even during downturns through expansion in international markets and constant attention in holding fixed costs. 

The significant price increase in the past year in major basic industrial materials like steel, aluminium and petroleum products has also been a major concern area. 

The enormous consumption of these materials and other commodities by China have resulted in global shortages and consequential price increases, Mr Tata added in his letter to shareholders. 

“The growing scarcity of coal, iron-ore and fossil fuel energy resources can only intensify this price spiral. User industries will need to reinvent the way they conduct their business in order to survive,” Mr Tata said. 

He added that new materials, processes and manufacturing practices will be needed to keep user industries competitive in these changing times. “Tata Motors will need to make these investments now if it is to safeguard its market position in India and to grow overseas,” according to Mr Tata. 

Mr Tata did not elaborate much on the small car project, only saying that the small car which the company was endeavouring to develop should succeed in catering to the growing demand for affordably-priced personal and family transportation.