Ratan Tata’s Nano venture of Singur by terming the small car project one of “national importance”, which deserved to be allowed to function without any hindrances.
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. According to Reliance Industries Chairman, “Mukesh Ambani”, claims that a “fear psychosis” is being created to slowdown a few projects of national importance. He further said that this present situation would be acting as a counter productive for the country’s economic growth, its global image as well as its ability to attract investments from across the world.
Nano vendors are now gearing up to meet the company’s call to supply material at its Uttarakhand plant. Production in Uttarakhand did not mean that the company had given up on Singur – Uttarakhand offers lucrative benefits to investors. Apart from a ten – year holiday on excise duty, it offers full exemption from income – tax for the first five years. Tax is charged at reduced levels in the next five years.
What is being envisaged in Uttarakhand is only a part of the total production. Singur continues to remain the main, or the mother, production hub as of now. 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.