But it’s turning out to be a quite understated acquisition; no great song and dance over it, perhaps that is for sound business reasons. There have been misgivings expressed in America over the change of ownership and at a sensitive time when Jaguar is about to launch a new model, Tata certainly wants to signal continuity rather than change. If anything there was lot more excitement over the Nano. But also in an odd way, that did clear the ground for this deal or at least perceptions of it, it established Tata as a clever and creative company. So the excitement is all in India; we of course look at Tata, the Indian company hitting the global road now in cars all the way from the tiniest to the fanciest.

Tata Motors is finally set to become the new owner of two of the world's best-known luxury car models - Jaguar and Land Rover. Sources say an MoU will be signed in London on Tuesday evening, with Ratan Tata leading the Tata delegation and Lewis Booth, the Executive Vice President heading the team from Ford.

CNBC-TV18 has learnt that Tata Motors has agreed to retain the manufacturing base of the two marquee brands in Britain and has even assured Ford that it has no plans to 'Indianise' Jaguar and Land Rover.

It has also assured Unite, the JLR union, that it will keep JLR’s US plants open with no retrenchment. Tata's have also agreed to stick to Ford's five-year plan for Jaguar and Land Rover. Tata Motors’ offer is said to be in the range of USD 2-3 billion. In fact, Tata Motors has recently secured a USD 3 billion loan from Citigroup and JP Morgan Chase.

While Ford does not reveal the individual financial performance of its brands; Jaguar and Land Rover, both part of its Premier Automotive Group, made a profit of USD 504 million last year. This acquisition will complete Ratan Tata's auto dream from owning the cheapest car to the best in luxury.