Nuclear deal failure could affect FDI: Tata

Tata Sons chairman Ratan Tata has said the failure of the Indo-US nuclear deal would be a "serious setback" for India, and could impact the inflow of foreign direct investment (FDI).

In an interview with Karan Thapar for Devil's Advocate on CNN-IBN, Tata said the civil nuclear deal with the US was in many ways the best possible thing that had happened to India in a long time.

Asked would it be a setback if the deal didn't materialise, he said: "I believe it is a serious setback to India. I believe the only people happy to see this not happening are probably Pakistan and China."

Apprehending implications on FDI inflows if the deal failed, Tata said: "I think it could because I think there would be repercussions and there would be reactions."

On a question if the Left needed to reinvent itself, he declined a direct reply but said: "We all need to reinvent ourselves. Even the Vatican reinvents itself."

Hitting out at political parties for "opposing for the sake of opposing," Tata said: "I really do wish we could go back to the days when we had stronger coalitions or single parties in government and a two-party system in the House where you really dealt with issues and serious ideologies."

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