India Inc speaks up for Nano

It may have taken some time coming, but more and more business leaders have now come out in support of the Nano project.

It may have taken some time coming, but more and more business leaders have now come out in support of the Nano project.

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Days after Reliance Industries chairman Mukesh Ambani warned against attempts to derail the cheapest car project in Singur, several other industry leaders on Friday threw their weight behind Ratan Tata.

These included Jamsheyd Godrej, chairman and MD, Godrej & Boyce Manufacturing Co Ltd; Sunil Mittal, chairman and CEO of Bharti group; Gautam Thapar, chairman and CEO, Avantha Group; C.K. Birla, chairman, Hindustan Motors and Venu Srinivasan, chair-man and MD, TVS Motor Co.

“The Nano... is a statement of the coming of age of Indian manufacturing,” Godrej said.

Business leaders worry that the developments in Singur would harm the overall investment climate in the country.

“If the house of Tatas, known for its values and care for society, can face such resistance, the much-needed fresh wave of industrialisation in the country could suffer,” said Mittal.

It would also dent India’s image abroad, some said.

“A pullout by the Tatas... at this stage would be very unfortunate, and would severely tarnish India’s image as an investment destination,” said Thapar.

The comments came hours after reports that Tata Motors had been forced to pull out an executive from Singur because some protesters had resorted to violence.