Under a major event in the Indian automotive industry, a memorandum of settlement has been signed between the Tata Motors management and the Telco Workers Union (TWU) on wage revision of its employees.

While the company officials said that the settlement will be effective for the period between from April 1, 2010 to March 31, 2013, the officials also mentioned the fact that the settlement included a minimum guaranteed fitment benefit of Rs 1800 plus one increment in the revised grade whereas the fitment benefit for temporary employees will be Rs 1250.

It is to be mentioned here that the General Secretary of the union of the company said that close to 10,000 employees will be benefited by this agreement.

Moreover, it may be noted here that labour unrest has been the talk of the town as far as the Indian automobile industry is concerned.

However, in the case of the largest home-grown auto major in the country, Tata Motors, the company has taken enough proactive steps to ensure that the company drives on a road without hurdles and the recently announced agreement is a step in the right direction.