Maharashtra Government Needs to Ensure That Legitimate Incentives are Deployed
By Mahindra Mahindra Limited, PRNEThursday, June 23, 2011
MUMBAI, India, June 24, 2011 -
“Mahindra strongly advocates that the Maharashtra Govt. should
keep their part of the commitment on the incentives offered that is
conducive to industry. This is especially relevant since we make
long-term investments based on commitments made by the State and on
the premise that there will not be a policy change which will
adversely affect our business plans. Such reversal in policies not
only upsets the plans that the investing companies have put in
place, it will also severely impact all new investments in the
state by existing and new potential manufacturing companies.
On the issue of Octroi refund owed to Mahindra by the Nashik
Municipal Council, we strongly suggest that the state government
intervenes as our agreement was with the government and not with
any local body.” said Dr. Pawan Goenka, President, Automotive &
farm Sector, Mahindra & Mahindra Ltd.
About The Mahindra Group
The Mahindra Group focuses on enabling people to rise. Mahindra
operates in the key industries that drive economic growth, enjoying
a leadership position in tractors, utility vehicles, information
technology and vacation ownership. Mahindra has a presence in the
automotive industry, agribusiness, aerospace, components,
consulting services, defence, energy, financial services,
industrial equipment, logistics, real estate, retail, steel and two
wheelers.
A US $12.5 billion multinational group based in Mumbai, India,
Mahindra employs more than 119,900 people in over 100
countries.
In 2011, Mahindra featured on the Forbes Global 2000 list, a
listing of the biggest and most powerful listed companies in the
world. Dun & Bradstreet also ranked Mahindra at No. 1 in the
automobile sector in its list of India’s Top 500 Companies. In
2010, Mahindra featured in the Credit Suisse Great Brands of
Tomorrow.
Its flagship company Mahindra & Mahindra Limited is the only
Indian automobile manufacturer to feature in the top 10 list of the
Carbon Disclosure Leadership Index in India - 2010, created by the
Carbon Disclosure Project (CDP).
In 2011, Mahindra acquired a majority stake in Korea’s SsangYong
Motor Company.
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Ms. Roma Balwani
Senior Vice President & Group Head, Corporate
Communications
Mahindra & Mahindra Ltd.
Phone: +91-22-2490-1441
Fax: +91-22-2490-0830
Email:
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Tags: India, June 24, Mahindra & Mahindra Limited, Mumbai
