On the evening of 29 January, billionaire stockbroker Motilal Oswal created a flutter when he declared on microblogging platform X that he would henceforth shun foreign goods in favour of locally produced ones, starting with the purchase of a new Tata Safari, a sport utility vehicle (SUV). Oswal used the hashtag #vocalforlocal, a catchphrase popularized by Prime Minister Narendra Modi, and tagged Modi along with Tata group chairman emeritus Ratan Tata in his post.
"In my pursuit of minimalistic and simple living, I have turned desi now. Stopped buying foreign cars, watches and other luxuries.
World-class Indian products are available now. Started with my Tata Safari, next would be Mahindra," Oswal wrote in the post on X.
Oswal is just one of the tens of thousands of consumers who have turned to Tata Motors Ltd in the frenzy to buy products made by homegrown companies. The company has unabashedly touted this shift while marketing its cars-a 'vocal 4 local' sticker adorns each of them. Along with other factors, the move has paid rich dividends.
Since 2020, Tata Motors has witnessed a stunning turnaround in fortunes in the domestic market-almost doubling its share and more than trebling absolute sales. Aided by a new design language and some technical support from Jaguar Land Rover, its British subsidiary, it has resuscitated an ageing and uninspiring brand and successfully exploited the market's clamour for SUVS. In the process, it has not only overtaken Mahindra & Mahindra Ltd to become the thirdlargest passenger vehicle maker in the country but also edged closer to Hyundai Motor India for the No. 2 spot-a position it lost more than 15 years ago.
Denne historien er fra February 13, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra February 13, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
7 myths about ADHD and how to handle it
Some adults with ADHD are misdiagnosed as having anxiety or depression as myths prevail even in the medical community
Why women bear the brunt of misdiagnosis
Girls are half as likely as boys to be diagnosed correctly as having ADHD, show studies
At these international marathons, it's ready, steady, swig
Can running and drinking go together? From France to Scotland, here are five races where running is a merry party
Indian IT firms should brace for Trump's second term
Restrictive visa, trade and other policies under Trump 2.0 may force a review of their US-centric business models
Freebies don't offer a long-term solution but let us not ban them
Keeping citizens dependent on handouts is not fiscally sustainable. India needs a transparent framework to regulate them
Is Nvidia's chief dreaming of selling us R2-D2-like robots?
It may turn out to be a good bet if the chip-maker keeps its risks low
Two ways the EPFO can get itself an image boost
India's state-run retirement fund would do itself a favour by resolving its high level of claim rejections and speeding up interest payments. Its digital makeover should signal efficiency
Forex card vs debit card: How to lower cross-border markup fees
Unlike debit cards, forex cards are not linked to your bank account, limiting your exposure to fraud and theft
India must reassess its rejection of the RCEP trade bloc
Joining it can work in our favour as global trade barriers get reshaped and value chains are forged
Armed hostility between Israel and Iran is very likely to escalate
Israel senses a high-risk high-return chance to reshape West Asia that Trump might green-light