labels: Reliance Industries, Tata Motors
Roadblocks to Nano would hurt economy badly: Mukesh Ambani news
28 August 2008

Mukesh AmbaniMumbai: Reliance Industries chief Mukesh Ambani has called for clearing the hurdles to Tata Motors' Nano project, saying the small car project is of ''national importance'' and any road-blocks to the project would deeply hurt the country's efforts at industrialisation and job creation.

''The Nano project is a unique and innovative initiative which will establish India's position as a small car hub. Indian industry must be encouraged to make such large investments in order to build the country's competitiveness as well as support job creation," Mukesh Ambani said in a statement.

He also called upon the political leadership of he country, irrespective of party affiliations, to work together and project a united front on projects of national importance, rather than creating a ''fear psychosis" among investors.

''A fear psychosis is being created to slow down certain projects of national importance. This will be counter-productive for the country's economic growth, its global image as well as our ability to attract investments from across the world,'' the Reliance Industries chairman said in the statement.

''Indian industry and the political leadership in the country need to work together to deliver on the aspirations of the millions of Indians in urban and rural areas," Ambani said.

The Reliance chairman's comments assume importance considering the fact that Mukesh Ambani normally prefers to keep a low profile and rarely makes public comments on controversial issues.

Mukesh Ambani's own plans for opening retail outlets in Bengal had been delayed for long because of opposition from within the Left Front. Although Reliance finally opened its retail outlet in Bengal after agreeing to sell only agricultural produce, it is still having problems with the local authorities in Kolkata.

Mukesh Ambani's comments come close on the heels of reports that the Tatas may move lock-stock-and-barrel to Pantnagar in Uttarkhand where it already has a plant and vendor support.

Vendor sources also indicated that if Tata's were to choose Pantnagar and start production at this stage, they could easily manufacture 3,000 cars per month to begin with and then eventually that can be scaled up. The chief minister of Uttarakhand has also said that they would welcome Tata and said that they had talks at the official levels, a CNBC report said.

''We are offering them power at very low rates and we are also providing them land. The labour environment is also very good,''  Uttarakhand CM BC Khanduri said.

Tata Motors has a huge facility and they are manufacturing their light pick-up trucks and there already are 54 suppliers at the vendor park in Pantnagar. Most of the vendors are common. So this could have been easier and would add to the advantage of the vendors if they go there.


 search domain-b
  go
 
Roadblocks to Nano would hurt economy badly: Mukesh Ambani