The takeover by Tata Motors [Get Quote] of Land Rover and Jaguar in a $2.3-billion deal is a precursor of things to come and a sign of the times we are headed into, says Kam Rathee, President of Canada-India Business Council.

"The river has started flowing upstream as India is now flexing its muscles. The economy of the world is turning on its head. India, once a business pariah is coming out to rule the roost," he says.

The Globe and Mail, Canada's national daily, has a full spread on its front page titled 'The Rupee's rising clout � Tata Motors. Purchase of Land Rover and Jaguar is only the latest example of an Indian outfit flexing its muscle abroad'.

The paper believes 'a strong (Indian) currency is seen as a buying opportunity'.

The Canadian daily details major takeovers by the Idnian companies, largely by the Tatas like the General Chemicals Industrial Products of $1 billion; their take over of the Anglo-Dutch steel giant Corus Group for $7.3 billion, and the takeover of the Tetley Tea for $540 million.

'Tata Motors' deal on Wednesday for Land Rover and Jaguar is just one of numerous Indian companies in sectors ranging from heavy industry, oil and chemicals to information technology, wind power and beverages that are taking advantage of a booming domestic market and a considerably stronger (Indian) currency to flex their muscles abroad,' it reported.

'While Canadian manufacturers complain that a strong dollar is hurting exports, Indian companies view the rising Rupee as a buying opportunity. In the process they are snapping up strategic businesses and iconic brands in Britain and other developed countries, reversing the traditional pattern whereby the flow of capital and did most of the acquiring,' the The Globe and Mail noted.

The daily quotes William Nobrega, President of Conrad Group, a Miami-based strategic planning firm that specialises in Indian business, 'India was a colony of Britain whose people were treated as second-class members of the empire and now they're out there buying British brand'.

'Winston Churchill must be turning over in his grave. The acquisition of Jaguar and Land Rover by the Tata Motors, is wonderful, poetic justice,' said Nobrega 'Things have come full circle'.