A shift towards circular model of growth will have huge potential for innovation, job creation and economic expansion, and is expected to generate $1 trillion a year for the global economy, according to a report.

The mammoth data breach at US No. 3 retailer Target has made executives even more aware of the need to improve safety standards, but the cost is often prohibitive.

Tata Motors during the throes of the global economic crisis in 2008 had acquired JLR and since then the fortunes of the iconic British automaker has turned around. Tata Motors had bought JLR from Ford Motor for $2.5 billion and poured in significant capital to revive the ailing luxury carmaker.