WB govt, Tata group discuss fresh investment

The West Bengal government is engaging with the Tata group to attract new investments to the state, according to Industry Minister Tapas Roy. Tata Motors abandoned its Nano car project in Singur in October 2008 and relocated it to Sanand, Gujarat, due to a long-standing protest against land acquisition led by TMC chief Mamata Banerjee. Roy confirmed that discussions are ongoing to welcome the Tata group back to West Bengal.

The Tata conglomerate operates in various sectors within the state, such as IT services, metals, hospitality, and retail. Roy hinted at exploring whether the group intends to expand existing operations or establish new ventures in West Bengal. When inquired about settling the arbitral award, which demands Rs 765.78 crore from Tata Motors, including 11% annual interest, Roy refrained from voicing an opinion. The state government is considering how to address this matter, he stated.

Tata Motors was ordered to pay the substantial sum following an arbitral tribunal's decision on October 30, 2023. Roy acknowledged that the previous TMC government has inherited the responsibility of fulfilling this payment, along with interest. When asked about the state's payment strategy, Roy declined to comment, emphasizing that it is premature to discuss the matter.