New Delhi  - Indian carmaker Tata Motors Ltd announced Friday that it would be launching the British luxury brands Jaguar and Land Rover in India this year.

   "Jaguar Land Rover ... has today reached agreement with Tata Motors Limited to be the exclusive importer," a Tata Motors release said Friday.

   Tata Motors, which released the world's cheapest car, the Nano, in Indian markets in April, bought the premium British brands in 2008 for 2.5 billion US dollars.

   "It is an important strategic move for Jaguar Land Rover and will enable us to realize our competitive potential in this significant market," Jaguar Land Rover's chief executive officer David Smith said.

   Tata Motors has created a new division to handle the distribution of Jaguar and Land Rover and the first showroom would be in Mumbai, the release said.

   Jaguar Land Rover had announced major job cuts in January because of slowing sales.