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Nissan Takes Legal Action Against The Indian Government! ― Here Are The Details.
Nissan Motors take legal action against Indian Government over unpaid state incentives. Here are the details.
The Japanese brand, Nissan Motors, have sued the Indian Government over unpaid state incentives. According to Reuters report, the Narendra Modi-led Government have been asked to pay over $770 million or a whopping Rs. 4969 crore.
The company had finally decided to go legally, after repeated requests to the state officials to pay the amount, which was due in 2015. Nissan also claim that they couldn't get any favourable response even after sending a legal notice to Prime Minister Narendra Modi.
The state in question is the Tamil Nadu Government, as part of an agreement to build a car manufacturing plant in TN, in 2008.
Nissan is aiming to get more than 5% market share in India by 2020. The brand currently has a share of 2%. If at all, the Government pays the said amount, theeconomic progress of India could greatly be affected, especially ‘Make In India' project.
Though Nissan could win the the case as by law, the event could hinder with India's GDP growth, as the automotive sector contributes 7.1% of it.
DriveSpark
Thinks!
India's
business
sector
has
been
doing
quite
well
recently.
If
the
Indian
government
has
to
pay
such
a
huge
amount,
it
could
affect
the
linear
development,
India
is
undergoing
currently.
However,
if
we
think
from
a
justice
standpoint,
Nissan
could
be
the
one
on
the
deserving
side.
