Tata Motors group says will cut consolidated debt to zero in 3 years

Company chairman tells shareholders investments are showing results and it's committed to Jaguar and Land Rover in the UK

The Tata Motors group has set a target of reducing its consolidated automotive net debt (excludes the company’s vehicle finance business) to near zero in the next three years, the company’s Chairman N Chandrasekaran (Chandra) told shareholders at the 75th annual general meeting on Tuesday. 

“Currently the group has a net automotive debt of Rs 48,000 crore and we are deleveraging this business substantially. The target is to bring it to near zero debt levels in the next three years,” he said.

Sharpening the brand portfolio, enhancing the sales and service experience, and sustainable mobility will be some areas that