Friday, April 27, 2007

Tata Motors to provide Microfinance in Singur

From Financial Express

Tata Motors have acquired land in Singur in West Bengal, India to set up an automobile factory. The land acquisition was politicised and handled poorly by the state Government as well. Tata now have to demonstrate that their intentions are honourable and they will help the local residents move up in their lives.

Tata Motors will be setting up an Industrial Training Institute (ITI), to train the local residents on basic mechanical and electrical techniques. They are also likely to provide microfinance through local Self-Help Groups, "to those driving van-rickshaws (cycle-carts) and upgrade them to motorised vehicles and earn higher income from providing transport services."

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