Ratan Tata, the Chairman Emeritus of Tata Sons has reposed his faith in the current Prime Minister Narendra Modi and says that he will certainly deliver a ‘New India’. In an interview to CNBC TV18, the renowned industrialist said, “He (Narendra Modi) is able, capable and innovative enough to look at India afresh. I, for one, am optimistic that India will be the ‘New India’ that he has promised.”
Elaborating why he believes so, Ratan Tata said that as Chief Minister of Gujarat, Narendra Modi had helped him by providing a “home” to set up a factory in the state, after the company shut down a Nano car manufacturing unit in Singur, West Bengal back in 2007. Recollecting the anecdote, Ratan Tata said, “I’ve known Mr Modi when he was the Chief Minister of Gujarat. I turned to him when we had to change factories from Singur in West Bengal to Gujarat. I’ve seen him, will never forget the way he found solutions for a company that was looking for a home.”
— CNBC-TV18 News (@CNBCTV18News) September 20, 2017
Further, Ratan Tata said that Narendra Modi kept his promise to provide land for the factory within ‘three days’ — a practice very uncommon in a country like India. He said, “Mr Modi invited me to move the factory to Gujarat, and I said, we we’ll come if we had a home. He said I’ll get you the land you want in three days. He delivered that! On the 3rd (day) morning, he said Ratan ji, here’s the land that I promised. That just doesn’t happen in India!”
Ratan Tata is highly optimistic about the Prime Minister’s new India initiative. “As Prime Minister now, he is offering to the Indian people a new India. I think we need to give him that opportunity to offer that new India,” he told the TV channel.
Meanwhile, yesterday Tata Sons, the holding company of the Tata group, bought equity stakes in various group companies from each other in order to consolidate and simplify the cross-holdings, as part of a larger corporate restructuring exercise. Tata Sons bought equity stakes in Tata Motors, Tata Beverages and Tata Chemicals by picking up shares of these companies from other group outfits. Tata Sons bought 43.18 million shares at Rs 213.35 apiece in Tata Global Beverages from Tata Chemicals.