New Delhi, Dec 8 () : Tata Sons in a statement issued today denied that its Chairman Ratan Tata used such harsh words like venal and inefficient against PM DR Manmohan Singh. The group said that even when India Inc. was critical of PM, it was Ratan Tata who expressed faith in Singh.
The group released the recorded version of the interview to the media.The group has also denied the comments on ethics.
Ratan Tata, one of the architects of modern India sounded a bitter man over the PM Dr Manmohan Singh and his ministry colleagues and the bureaucrats who work for them. He said that not only him but others in industry were not getting support from the Govt and this was pulling down India while China’s government support to industry was quick and positive .
The outgoing head of the Tata business empire turns 75 on December 28. He termed the business environment as venal. In an interview to a financial daily, he said there was no uniform clarity among ministers. He said that ministers would say something else while PM had a different view. He had told PM to put the bureaucracy in its place but nothing was done.
Tata empire deals from salt to software and on the global front it has Jaguar Land Rover and Corus Steel.
The interview comes when Singh’s government has pushed through economic reforms through Parliament and aims to open up FDI in insurance and aviation.
Tata group worldwide sales totasl $100.9 million, said investors were discouraged from investing in India and said that nowhere it took 12 years to get a licence to start a steel plant.
Ratan Tata said government agencies have their own interpretations of the law and its execution. He said he opened Jaguar Land Rover factory in China due to the support he got. If India Government had given the same support, then Tata would have opened it in India.
Talking about ethics in business, he admitted that his Mumbai office compromised and it affected business. He said his successor Cyrus Mistry’s challenge would be not to compromise the group’s ethical standards. He said that compromise looked easy out then surrendering.
It was Ratan Tata’s pet project the world’s cheapest car Nano launched in 2008. Till now it has not touched the 100,000 mark, Tata said that it was seen as a cheap car and some stigmas attached to it took away the sheen of the product meant for an affordable vehicle for the family.