Dilip Cherian India's 'Image Guru' and a diehard observer of the capital discusses the hour of darkness and feels a lot is riding on Tata's tiny wonder
Dilip Cherian India's 'Image Guru' and a diehard observer of the capital discusses the hour of darkness and feels a lot is riding on Tata's tiny wonder
ADVERTISEMENT
 |
|
Lakh take ki baat: Tata Motors is banking on Nano's success and massive customer deposits to turn their cash-strapped company aroundu00a0u00a0 |
But apparently, it was "Mumbai shining" during Earth Hour as lights blazed as bright as ever in many parts of the city. The indifference is understandable given that we experience power outages are a daily occurrence in most metros. Dilli alone averages a supply-demand gap of 600MW during summers, while Mumbai fares only marginally better. The Dilli sarkar apparently is now so enthused with the concept that some babus even want repeat acts every month! But with the summer upon us, Dilliwalas are preparing for power cuts anyway!
Small wonder
Many hopes rest on Ratan Tata's tiny Nano and not just of prospective buyers. Tata Motors is banking on Nano's success and massive customer deposits to turn their cash-strapped company around. Singur came as a blow, and the global meltdown arrived after. The slump in sales and tighter credit made it difficult for Tata to tap credit markets. Analysts say the company faces a funding gap of at least $3.4 billion, of which $2 billion is a loan taken to purchase Jaguar Land Rover which is due in June, despite the breather the Brits have given recently.
Just how crucial Nano is to Ratan Tata can be gauged from the fact that until barely a few days before the car's launch, Tata managers were busy arranging to clear outstanding dues to some critical component suppliers. Clearly, these are risky times for corporates, especially when the risk is not just financial but also reputational.
"Exciting news! Mid-day is now on WhatsApp Channels 
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
