Tata’s ‘remarks’ on Mukesh Ambani home sparks controversy

Tatas disputed the reported attribution to its chairman, saying that the comments were taken out of context and factually incorrect. A Tata Sons spokesperson said that the comments seem to have been deliberately sensationalised and added it was pursuing measures against the incorrect impressions being sought to be created

London/Mumbai: Ratan Tata’s purported remarks expressing surprise at fellow industrialist Mukesh Ambani living in a billion-dollar mansion in Mumbai sparked off a controversy on Sunday, reports PTI.

The Tata group chairman was quoted by London’s Times newspaper as having said, “It makes me wonder why someone would do that. That's what revolutions are made of. The person who lives in there should be concerned about what he sees around him and [asking] can he make a difference.

“If he is not, then it’s sad because this country needs people to allocate some of their enormous wealth to finding ways of mitigating the hardship that people have.”

Mr Tata, who bought the British steel maker Corus and car manufacturer Jaguar Land Rover (JLR) said the widening gap between the rich and the poor in India worried him.

“We are doing so little about the disparity. We are allowing it to be there and wishing it away.”

However, Tatas disputed the reported attribution to its chairman, saying that the comments were taken out of context and factually incorrect.

“We would also like to clarify on stories in Indian media regarding Mr Ambani’s home. The report is out of context and factually incorrect. Mr Tata’s comments on wealth are in the larger context of the growing disparity in the society.

The comments seem to have been deliberately sensationalised.

“There have been words, individuals and statements that have not been mentioned by Mr Tata during the course of the interaction which are being attributed to him.

“We have already registered our protest with the concerned publication and will continue to pursue measures against the incorrect impressions being sought to be created,” a spokesperson of Tata Sons said in a statement.

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Renault launches its luxury model in India

Petrol variant of Fluence will come with a 2 litre engine while the diesel option will be powered by a 1.5 litre engine

French carmaker Renault has launched its luxury sedan ‘Fluence’ in India with both petrol and diesel options, priced between Rs12.99 lakh and Rs14.40 lakh (ex showroom Delhi).

“The Renault Fluence was designed for the Asian market and hence we are confident that it will not only shake up the segment, but also give the Indian customer their first taste of what Renault is capable of bringing to the Indian market,” Renault India managing director Marc Nassif said.

This is the first Renault branded car to be assembled in India at its Chennai facility, he added.

Petrol variant of Fluence will come with a 2 litre engine while the diesel option will be powered by a 1.5 litre engine.

Renault along with its global alliance Nissan has committed an investment of Rs4,500 crore by 2015 at Chennai facility, which will have a total production capacity of 4 lakh units per annum.

The French company is currently considering setting up an engine plant at the facility.

After Fluence, Renault will introduce a sports utility vehicle ‘Koleos’ this year, followed by three more car in 2012.

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FICCI appoints Rajiv Kumar as secretary general

Rajiv Kumar joined FICCI as director general in October 2010

Industry body FICCI  (Federation of Indian Chambers of Commerce and Industry) said it has appointed Rajiv Kumar as the new secretary general of the chamber.

Mr Kumar, a well-known economist and the author of several books, would succeed Amit Mitra, who has become the Finance Minister of West Bengal.
Rajiv Kumar joined FICCI as director general in October 2010.

Earlier, he was director and chief executive of an economic think-tank, the Indian Council for Research on International Economic Relations (ICRIER).

"I see this as one of my most challenging assignments, which will not only require my total commitment, but will also serve as a substantial learning experience," Mr Kumar said.

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