Tata Nano Has Received Loans Up To INR 456 Crore From Gujarat

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The Nano was a revolutionary product in small car segment, they achieved competitive pricing. The Indian made vehicle, however, did not receive the appreciation it deserved in the beginning.

Gujarat Government has been with Tata Motors for their Nano project from day one. Over the last three years they have provided the manufacturer with loan amounts of INR 456 crore.

The Chief Minister of Gujarat has confirmed that this loan was provided to Tata Motors to set up their facility in Sanand, Ahmedabad district.

Gujarat state Government has provided INR 167.20 crore during 2012-2013 and INR 252.34 crore between 2013-2014. During 2014 to 2015 Tata Motors received INR 37.25 crore.

Opposition leaders from Congress have questioned this loan to Tata Motors. They explain that the Indian manufacturer has violated the contract and action must be taken.

Currently no action will be taken up against Tata Motors. Violations mentioned are that the manufacturer does not employ local youth and do not manufacture the Nano at Sanand facility.

The Tata Nano is a popular vehicle and a personal project of Ratan Tata, who visioned the most affordable four-wheeler for all Indians. Gujarat Government and Tata are looking at options of manufacturing another vehicle at their facility.

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Story first published: Friday, March 20, 2015, 13:51 [IST]
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