IMC urges stakeholders to settle Singur dispute

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Ahmedabad, Sep 2 (UNI) Indian Merchants' Chamber (IMC) has called upon all major stakeholders -- West Bengal Government, the Tatas and the Trinamool Congress (TMC), to settle the Singur land acquisition dispute amicably in the larger consumer and national interest.

IMC President M N Chaini, in a statement here, said ''Any delay in ending the dispute will not only have serious repercussions on scores of other major infrastructural and industrial projects, but will also jeopardize the general investment climate in the country by undermining confidence of foreign investors in the present difficult times, when the general industrial slow down is threatening the global economy.'' Nano Car Project is the most prestigious project not only for Tatas but for India as such, which has been flashed all over the world as the Rs one-lakh small car project. The project, which has the potential to generate thousands of direct and indirect jobs, should start immediately, he said.

He said, ''For last several years India has made major efforts to attract foreign investments. While we were able to get substantial foreign investments in secondary capital markets, our efforts in attracting direct investments in industries are far below expectations.'' Mr Chaini expressed the hope that latest talks between the Governor, Gopal Krishna Gandhi, and TMC delegation would cause a breakthrough in the present deadlock and expedite the implementation of the car project.


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