India Inc today said that the pulling out Tata Motors' prestigious Nano car project from West Bengal is a loss for the industrialisation of the state and would reflect badly on the investment climate.
The Federation of Indian Chambers of Commerce and Industry (Ficci), secretary general, Amit Mitra said, “The Tata project could have brought about a major change in the industrial scenario in the state. This was not a one-off auto project, but would have given a boost to a whole host of ancillaries as well.”
Commenting on the fate of West Bengal’s traditional engineering and heavy industry Mitra said, these industries suffered over time because of lack of fresh investments that lead to the closure of many engineering units.
The fact that the Nano project ran into trouble due to land disputes, has made industry chambers ask for a clear policy on land acquisition from the government. “A full review and consensus needs to be reached on how land acquisitions needs to happen in the future,” said Chandrjeet Banerjee, director general, Confederation of Indian Industry (CII).
“It should be the onus of the political leadership of the country to ensure and facilitate investments in the country without unnecessary delays being created,” he added.
The Associated Chambers of Commerce and Industry of India, without blaming the West Bengal government, condemned the vested interests of a section of political parties. “The blame lies with a section of a polity and people will have to pay a very serious price for it”, said D S Rawat, secretary general. However, he does not see the pull out hampering future prospects of the state in terms of investment inflows.
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