The Hindu : Business : Tata to hold Nano price at Rs. 1 lakh

Online edition of India's National Newspaper
Saturday, Jun 21, 2008
ePaper | Mobile/PDA Version

Business

Business

Tata to hold Nano price at Rs. 1 lakh

Special Correspondent

KOLKATA: The Tatas’ small car is likely to roll out of the Singur plant as scheduled in October and vendors are also getting their projects readied, Tata Ryerson Managing Director Sandipan Chakravarty said. Mr. Chakravarty, whose company is slated to supply a substantial portion of the components for the Nano, said that he planned to get his plant ready by August. The issue of the rollout was at the fore again in view of the water-logging caused by the recent spell of heavy rains and flash floods in the State. Portions of the project area were submerged but the core area was not affected. Mr. Chakravarty said that measures were being put in place to drain the water.

Talking to journalists after addressing a Confederation of Indian Industry (CII) meeting, he said the car had begun generating huge enquiries although dealers might start taking bookings only after the formal roll out from Singur. To a question on whether it would be possible to hold the Rs. 1-lakh price-line, in view of the inflation and the increase in steel prices, he said “a promise is a promise”.

Land acquisition

Mr. Chakravarty, who has taken over as the eastern region chairman of the Confederation of Indian Industries said during his press conference that the apex industry body would advise all members to acquire land for their industries on their own with the government acting only as a good facilitator.

On the problems being faced by industries regarding land acquisition in eastern India, he said this issue had been taken up with the chief ministers of the five States within the ambit of the CII (ER).

“This is more of a political issue than a business issue but the government as well the CII advocates land acquisition by the businesses themselves on models like that of the Jindal Steel which involved add-ons like equity in addition to compensation for land.”

Printer friendly page
Send this article to Friends by E-Mail

Business

News Update

Stories in this Section