Rejecting suggestions that major corporates are scrapping their projects in the country due to fault policies of the government, Congress today blamed it on "problems of states".
"A state may have its own problems or issues. They (Posco) would have dealt with the last (BJP) government in Karnataka. If some chaos has happened due to the issues related to the state, it does not mean there is any problem with the policy of the Centre," party spokesperson Raj Babbar told reporters here.
His comments came in response questions on the South Korean steel major Posco pulling out its Rs 30,000-crore steel mill in Karnataka and world's largest steel maker ArcelorMittal scrapping its USD 12 billion (Rs 50,000 crore) steel plant in Odisha.
Babbar also said the government has not made its policies keeping in mind any particular company.
In the biggest foreign investment pullout, ArcelorMittal yesterday scrapped its USD 12 billion (Rs 50,000 crore) steel plant in Odisha over inordinate delays, problems in acquiring land and securing iron ore linkages.
The development came a day after Posco pulled out of its steel mill in Karnataka and the government widened its doors to foreign direct investment for a dozen sectors.
Bharti Retail today said it was awaiting clarifications from the government on FDI policy in multi-brand retail before going ahead with its future retail expansion plans.
The Bharti spokesperson refused to confirm or deny reports of Bharti Retail returning 17 properties leased to expand its retail operations.
