The new car features the low nose mandated by the regulations, as well as the new tailpipe at the rear as part of measures designed to prevent exhaust-blown downforce.
The image does not reveal any dramatic design innovations, but it will not be until the car first appears at next week's Jerez test that any conclusions can be drawn about its technical merits.
"Almost every single part is a new design, from the front wing right back to the diffuser," said technical director Andrew Green.
"The genetics of the VJM07 still lie in the 2013 car, but we've had to achieve the same results in a slightly different way.
"It's been a massive job to accommodate all the changes to the power unit - it's the biggest change I've witnessed in the sport since I started in 1990.
"Cooling has been the biggest challenge with most of last summer taken up trying to understand the cooling requirements of the power unit, and how best to optimise it in the chassis."
The car features a new colour scheme, with much of the white colouring removed in favour of black.
This modified colour scheme replaces the white, orange and green livery used from 2009-2013.
"The VJM07 looks stunning and the new livery reflects the way Sahara Force India is evolving," said Mallya.
"I've always believed our cars have been the most eye-catching, but adding black as a main colour gives us a fierce new look."
The new livery also incorporates some new sponsors, with telecommunications brand Claro - which previously backed McLaren and Sauber - coming on board thanks to Sergio Perez's arrival at the team.
Mallya believes that this shows the team is growing and that the coming season could be its best in F1.
"It's been a busy winter for us on the technical and commercial front," said Mallya.
"When I founded the team my first ambition was to launch the first Indian team on the grid, but the next stage in our evolution is to develop a global brand.
"I think that ambition is reflected in the partners we are working with and our world class driver line-up.
"It certainly feels as though there is the potential for 2014 to be our strongest season yet."