Fiscal year 2017 will be a challenging year for Tata Motors , said its chairman Cyrus Mistry at the 71st AGM held in Mumbai today.
Mistry highlighted how macro-economic headwinds could spoil India's growth story and along with domestic challenges, the company could see an impact on its business. Brexit referendum will add to the global uncertainty and the slowdown in China will further accelerate, said Mistry, posing a serious threat to Jaguar Land Rover operations.
This weakness in global economy could pose serious threats to India. And, these conditions could persist throughout the current fiscal. The company, Mistry said, is going through an extremely challenging phase. There is a lot of competitive pressure in the commercial vehicle space and it is going to accelerate in FY17.
Source/Credit - Moneycontrol.com