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Tata keen on fresh investment in WB: Mistry

 MPost |  2016-08-25 00:40:05.0  |  Kolkata

Tata keen on fresh investment in WB: Mistry

The pull out of Nano factor from Hooghly’s Singur during the erstwhile Left Front government was a setback for the West Bengal. Ratan Tata, the group chief before Mistry had taken the power seat in 2012, had regretted to leave the state with empty in hand earlier.

But Mistry’s remark on Wednesday about the investment issues in the state was strongly spotted as a green signal for fresh investment in Bengal. The pro-active industrialisation policy of the state government has inspired them to think of investment again.

Mistry said West Bengal has always occupied a special place in their hearts. The Tata Group has always found this state a place to grow. This state is also the part of company’s history. “For us, West Bengal has a special place in our heart and our history. And we’ll always look at West Bengal as a place to grow,” he said.

The chairman of Tata Group has also added that they have brought up the matter of investment in West Bengal saying that they are a completely apolitical business group. “I must assure, at Tata group we are clearly apolitical. We don’t take part in politics. For us West Bengal has a special place in our heart and our history,” Mistry said.

The Tata group is looking for business opportunities in West Bengal that Tata Chairman has clarified. “I think the opportunities have to show themselves, and when they do, irrespective of the political environment, we will make the decision to invest,” he said.

Mistry was critical about GST and Brexit.  “It would have an inflationary pressure on Tata Global Beverages Ltd’s tea business in short-term,” said Mistry said. He further said that in long-term, the execution of the GST would have a significant impact.

“We are discussing the matter to the government in this respect. Tea as a product has to be looked at carefully. There will be some short-term effect, while the long-term effect will also be significant on the industry,” Mistry said adding the UK’s exit from the EU is expected to present some risks on trading and buying which might cause an inflationary effect in some of our businesses. The 65 per cent of the tea revenues come from global operations where the growth is not as good as our home soil.

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