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Home > India > Business > Business Headline > Report

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Mukesh backs Tatas' Singur project

BS Reporter in Mumbai | August 28, 2008 09:52 IST

Reliance Industries [Get Quote] Chairman Mukesh Ambani on Wednesday backed the Tata group's Nano car project, saying industry and politicians need to work together for the country's industrial growth.

"A fear psychosis is being created to slow down certain projects of national importance," Ambani said, adding that the "political move" will be counter-productive for the country's economic growth, its global image as well as the ability to attract investments from across the world.

Ambani's statement comes after Tata group Chairman Ratan Tata threatened to pull out from Singur, where the Nano car project is coming up, due to continued political opposition led by Trinamool Congress.

West Bengal Chief Minister Buddhadeb Bhattacharjee on Monday made an unconditional offer of talks with Trinamool Congress, which, however, rejected the overture.

"The Nano project is an unique and innovative initiative that 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," he said.

Ambani called for industry and the political leadership to work together to meet the aspirations of millions of Indians in urban and rural areas.

Ambani had also faced stiff resistance from political circles, especially in Uttar Pradesh where his Reliance Fresh super market stores were shut down because of protests from farmers.


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