Japanese automotive company Nissan on Friday said it was focused on working with the Indian government to fix a conflict about pending incentives to be given by the Tamil Nadu government.

The automotive company has allegedly dragged the Indian government to international arbitration looking for over $770 million, which includes interest costs, unpaid incentives and damages among others.

When contacted a Nissan spokesperson did not deny the development.

The spokesperson without indicating explanations behind making up such a stride said, “We are committed to working with the Government of India toward a resolution.”

The spokesperson additionally did not remark on where the Japanese automobile company has started the arbitration procedures.

The spokesperson said, “”Nissan is proud to play a role in the Make in India effort and we have created over 40,000 jobs in India, directly and indirectly, and contributed to the economic growth of Tamil Nadu where we have invested around a billion dollars.”

The Renault-Nissan alliance has set up an assembling plant in Tamil Nadu with a venture of around Rs. 6,100 crore up until now. It has an aggregate ability to deliver 4.8 lakh units every year.

The automotive group was offered different sops, including tax incentives by Tamil Nadu government to set up the plant in the state.

As indicated by the report, the state government has not paid incentives due in 2015 to the organization, which had additionally brought up the issue with the Center for intercession.

 

Source: DNAINDIA