But, in August, Nissan gave India an ultimatum to appoint an arbitrator, the person said, adding the first arbitration hearing will be in mid-December. A Nissan spokesman said the company was “committed to working with the government of India toward a resolution,” but did not elaborate. A senior Tamil Nadu state official said the government hoped to resolve the dispute without having to go to international arbitration. Nissan did not specify the business impact in the 8-page notice, but said in 2008 that state incentives were critical to the project’s viability and sustainability. The company spokesman said Nissan has created more than 40,000 direct and indirect jobs in India.

Source: Mint December 01, 2017 04:41 UTC