PTI 

LONDON, Mar 26: India's Tata Motors on Wednesday acquired Ford's British marquees Jaguar and Land Rover for 2.30 billion dollars in an all cash deal, sealing a deal that it pursued for nine months.

Under the deal, Tata would continue to source engine from Ford, which would be paying about 600 million dollars toward the pension liabilities of Jaguar-Land Rover employees.

Earlier, the Government showered compliments on the Tata Group for acquiring the Ford brands and holding India's flag high in the highly competitive international business.

"My congratulations to the Tatas and the entire corporate world, as they have held India's private sector flag high. The world is looking at India," Commerce and Industry Minister Kamal Nath said in New Delhi.

He said homegrown Indian firms have demonstrated to the global business how competent and progressive they have become even in the midst of a slowdown.

"The most important thing is that world is recognising India's credibility".