Ratan Tata says confident PM Modi will create a 'new India'

In a wide-ranging interview with Network18, Tata Sons Chairman Emeritus Ratan Tata, the venerable industrialist talked about a host of issues. From his views on Prime Minister Narendra Modi to what the Tata legacy means today, and what went through his mind when the Taj Mahal hotel was attacked on 26/11.

The full interview will be aired on CNBC-TV18 at 21.00 hours today.

Excerpts below:

On PM Modi and his vision of India

I have known Narendra Modi when he was Chief Minister of Gujarat. I turned to him when we had to change factories from Singur in West Bengal to Gujarat. I have seen him and will never forget the way he found solutions for a company that was looking for a home.

He invited me to move the factory to Gujarat and I said we would come if we had a home and he said, I will get you the land you want in three days. And then he delivered that. On the third morning he said,' here is the land that I promised.' And that just does not happen in India.

So, Mr Modi as Prime Minister now is offering India, the Indian people, a new India. We need to give him that opportunity to offer that new India. He is able, capable and innovative enough to look at India afresh and I for one, am optimistic that with his leadership, India will be that new India that he has promised.

Where he sees Tata Group in 10 years

It is too hot a question to answer given what we have been going through in the last several months. All I would like to say is that I feel that the group is in very able hands with Chandra. Businesses are cyclic, they will have their ups and downs. We have been a group that has worked with companies when they are in peril and brought them up and I hope we can continue to do that.

The group will probably look different over the next 10 years. There will be companies that were not there earlier and there will be companies that were there and not there 10 years from now because they will not be relevant or they may have been sold or transferred to another company. So the face of Tatas may change, but so long as there is still the same drive to make this an enterprise or a conglomeration of enterprises, that operate with ethical standards and value systems, I would feel very proud.