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| World Home » Business » | Sat. Nov 22, 2008 |
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NANO’S Future Uncertain, will it stay in Gujarat? MIL/Agencies, Oct 7, 2008. IR Summary Ahmedabad, October 7, 2008 – IR Summary/Agencies - The future of NANO is uncertain, it came out from West Bengal, it is also being considered whether it should roll out from Gujarat or to stay there, the meeting between two giants i.e. Gujarat Chief minister Narendra Modi and Tara Motors Chairman Ratan Tata may decide its luck today, where the status of Nano stands. It is a great opportunity for Narendra Modi, he may be able to suppress many controversies if Tata agrees to stay there and Gujarat State may have an edge over election in the centre in favour of BJP, its reputation shall enhance. Different sources said the decks have been cleared for transfer of 1,000 acres of land to the Tatas. Modi's council of ministers have already met at 10 am before the Tata team arrives. The land which the Tatas have to finally select is located within a 2200-acre campus owned by the Anand Agriculture University which serves as a cattle and seed farm. The university has already transferred 1,000 acres back to the government which went into an overdrive to woo Tata Motors ever since the situation started worsening at Singur in West Bengal. Government officials were hopeful that the deal will be clinched on Tuesday, after a final round of negotiations on the concessions Tata Motors will be seeking. While Modi has been personally averse to giving concessions to industry, on the ground that such concessions given in the past had led to a huge loss of revenue to the exchequer, there is willingness to make an exception in the case of the Nano project. "We had to relax our rigid stand considering the fact that other state governments were going all out to roll the red carpet for the Nano plant. Losses due to concessions would be offset by the immense positivity created around the investment climate in Gujarat," a senior official of the industries department said, while admitting that there could be a tough last round of negotiations.
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