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 wonderIt was a dark hour for global warming, literally! Many Indian cities, including Dilli and Mumbai, went dark when millions of residents voluntarily switched off lights for one hour, joining more than 370 cities in 75 countries in a
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Lakh take ki baat: Tata Motors is banking on Nano's success and massive customer deposits to turn their cash-strapped company aroundu00a0u00a0
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bid to save the planet. Cynics who earlier scoffed at such well-meaning causes as "no honking" day in Dilli or "Car-free Bandra" campaign were clearly a silent minority. The Earth Hour, as this noble initiative is called, was a stupendous success in Dilli, with the sarkar proudly announcing that power demand dropped a whopping 1,000 MW during the hour-long event.
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 wonderMany 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.
