Mukesh drives for Ratan Tata's Nano

KOLKATA: In a rare show of solidarity for a fellow industrialist, Mukesh Ambani on Wednesday came out in support of Ratan Tata's Nano venture at Singur by terming the small car project one of "national importance" which deserved to be allowed to function without any hindrances. ( Watch )

In a statement, the Reliance Industries chairman said: "The Nano project is an 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."

Claiming that a "fear psychosis" is being created to slow down a few projects of national importance, Ambani said this would be counter-productive for the country's economic growth, its global image as well as its ability to attract investments from across the world.

"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," Ambani said.

Mukesh Ambani's decision to comment on the Nano venture is somewhat unexpected because the older Ambani brother always prefers to keep a low profile and is not known to comment publicly on controversial issues. The Reliance chairman, who usually evades the media, has never commented on his very public spat with his younger brother.

Incidentally, Mukesh Ambani's own plans in Bengal have failed to make much headway because of opposition from within the Left Front.

Reliance Retail could not open outlets in Bengal for a very long time and managed to do so only after it agreed that it would not sell agricultural produce. Even its plan to redevelop the city's Park Circus market has run into rough weather because of Kolkata Municipal Corporation's reluctance to relocate traders from there.

In January, though, the Reliance chief had assured state commerce and industries minister Nirupam Sen that despite the problems faced by his retail business, he remains committed to invest in Bengal. Reliance is keen to bring gas to the state by 2011.

source:toi