‘Investors wary of Bengal’

Aug 23, 2012 |

Age Correspondent

Kolkata

The exit of Nano project from Singur has dealt dealt a blow to the image of West Bengal and sent a negative message among investors. Moreover, the Mamata Banerjee government’s land policy has also failed to restore their confidence. These views were expressed by the national secretary general of the Associated Chamber of Commerce and Industry of India (Assocham) D.S. Rawat. “Land has been a major factor. But it is not merely the question of land. The Singur fiasco has created apprehensions in the minds of investors. They fear that if it can happen with the Tatas then it can happen with them also. This is the most worrying factor,” he added. Mr Rawat was speaking on the sidelines of a conference titled Positioning Bengal. A report titled “West Bengal: Unfolding Growth Strategy” was jointly released on the occasion.
Mr Rawat pointed out that lack of clarity in the state government’s land policy has prevented large industries from coming to Bengal. “No state government can afford to miss large investments especially not a state like Bengal where there is so much poverty and the infrastructure is in such poor shape,” he added. Mr Rawat claimed that projects worth nearly `five lakh eighty thousand crores have remained unimplemented in the state. “There are two reasons for this. One is global economic slowdown and the other is the absence of clear cut policy parameters after the change of government in Bengal,” he added.
Recently, the Assocham had conducted a survey on job generation scenario in eight cities.

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