Left's withdrawal not a surprise; industry worries about economy

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New Delhi, Jul 8 (UNI) Reacting to Left's withdrawal of support to the UPA government, industry today came out vociferously in support of the Indo-US nuclear deal, but was worried at the fallout it would have on the economic situation.

The worry on the part of industry was with declining business confidence in the economy and any developing governance vaccum emerging out of the political crisis. A political vaccum would further bring down confidence of the industry and may hurt growth further, apex chambers said.

Mr Rajeev Chandrasekharan, FICCI President and Member of Parliament, said his chamber looks to government with a ''realigned political equation'' to swiftly address the economic crisis and give a fresh importance that will drive the economic growth.

''FICCI looks forward to the Prime Minister's promise of 8.5 per cent economic growth that was made at its AGM, being achieved,'' Mr Chandrasekharan said.

ASSOCHAM President Sajjan Jindal said the political developments did not come as a surprise to the industry because the Left's decision to withdraw support was on expected lines and a reaffirmation of what it had been saying.

Both the Chambers said the nuclear deal was in national interest as it could go a long way in meeting the power deficit being faced by the country.


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