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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.
"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.
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