The Centre is unlikely to intervene in solving the Singur impasse.
"Centre's intervention would me going back to the days of licence raj. Centre cannot say on where investments would go. It is an issue between the state government and the industry," said Pranab Mukherjee, Union external affairs minister, on the sidelines of the annual general meeting of Bengal National Chamber of Commerce & Industry (BNCCI).
He said, peaceful political environment was pre-requisite to the economic development of a country.
"We have recognised the fact that, if India is to be regarded as an economic superpower, for the next 15 years sustainable growth and peaceful environment is needed," the minister said.
Investment is social sector, infrastructure development and affordable investment were prerequisite factors for economic development, he added.
The minister also assured the industry body of India's immunity to the recent global financial turmoil due to the fall of Lehman Brothers.
"We need not press the panic button at present. Our exposure to the investment bank in the US is limited. The exposure of 29 public sector banks is minimum. We are in a position to manage it," Mukherjee said.
In a speech focused on the importance of nuclear power to the country's development, the minister said India could not afford to achieve its economic goals without adequate energy resources.
"We require economic muscle, for we being respected in the world economy," he said.
