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Tata Motors on Sunday told that their much awaited Nano car will be out in the market from its Singur facility by October this year in spite of the project was facing cost overrun.

“We have already sunk in Rs 2000 crore”’, the company’s Managing Director Mr. Ravi Kant said, adding earlier the project cost was pegged at Rs 1700 crore.

Mr. Ravi Kant, who met the West Bengal Chief Minister Mr. Buddhadev Bhattacharjee at Writer’s Buildings in Kolkata, told reporters that the entire project had been reworked at the plant site at Singur due to floods last year which had led to the cost escalation.

Mr. Ravi Kant had visited the Singur plant yesterday to review progress and discussed all the relevant issues with suppliers and vendors regarding the manufacture of the car

He sated that if everything will go according to the plans, Nano would be rolled out during Durga Puja. “We hope to start trial production during July or August and Nano will be produced out of West Bengal”, he said.

Mr. Kant had earlier stated that while the company’s focus would remain the domestic market for the first couple of years, Tata Motors was keen to take the car to Africa and Latin America as the global interest for the small car is increased meanwhile.

Tags: Bengal, Nano, Singur, Tata, Tata Motors, Tata Nano

India’s two leading conglomerates, Tatas and Reliance have recorded their names in the world’s top 25 innovative companies. Tata at rank six has provided the cheapest Nano car while Mukesh Ambani’s Reliance scored position 19th has established aggressive growth plans.

It is first time that the two companies has entered the list of top 25 topped by Apple Computer, the maker of iPod music players and Mac personal computers. Internet search giant Google is at position two followed by Japanese auto major Toyota, industrial conglomerate General Electric (GE) and software behemoth Microsoft in the top five.

The list, published in the April 28 edition of Business Week magazine that hit the newsstands today, has been compiled by the US financial publication in collaboration with Boston Consulting Group.

Business Week said about Tata Group, “Mumbai-based conglomerate jumps onto our list for the first time, fuelled by its paradigm-busting 2,500 dollar ‘Nano’ car for the masses”.

“The car, from its Tata Motors unit, is the world’s cheapest, thanks partly to a distribution model that sells the auto in kits to entrepreneurs who assemble them for buyers.”

About RIL, it noted that “the Indian petrochemicals giant made it onto our list this year thanks to fans of its aggressive growth.

“But its ambitious plans to reach into grocery retailing, which is dominated in India by small shopkeepers who have rebelled against corporate entrants, have faltered,” it added.

Tags: Ambani, India, ipod, Nano, Reliance, RIL, Tata