Participating at an interactive programme here, Ratan Tata said he was hopeful of Prime Minister Narendra Modi making the economy growth-oriented, despite it being a huge task.

"Naredra Modi has a track record of being a doer, and what he has done in Gujarat is there for everyone to see. He has a huge task nevertheless in turning around the economy to growth oriented rather than control oriented," he said.

"We will have to give him a little more time. But I am very hopeful that he will turn things around," Ratan Tata said.

"We all have to be very hopeful of the new government, because since 1994 we have had a coalition government, where at times it had been difficult holding together the coalition partners," Ratan Tata said.

The former Tata Sons' chairman also thanked Narendra Modi, who as the then chief minister of Gujarat had given him a ‘new home’ when the company had to relocate a car manufacturing unit from West Bengal following ‘hostile’ anti-acquisition movement led by Trinamool Congress supremo Mamata Banerjee.

"I am thankful to Modi for giving me a new home," Ratan Tata said about the relocation of its Nano car project from Singur in West Bengal's Hooghly district to Sanand in Gujarat.

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