Satyam cannot harm entire Indian IT industry: Pranab

Posted By: Staff
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New Delhi, Feb 12: Government would make every effort in getting to the bottom of Satyam fraud, as one IT industry cannot harm the prospects of the Indian IT industry, said external affairs minister Pranab Mukherjee on Thursday, Feb 12.

"We will spare no effort in getting to the bottom of this terrible scam and will take whatever measures are necessary on the basis of the findings," External Affairs Minister Pranab Mukherjee said at the Annual General Meeting of FICCI.

Mukherjee is also holding the finance portfolio as PM Manmohan Singh underwent a by-pass surgery.

He asserted that govt was quick enough to do everything in the domain of investigations, to give security to the thousands of employees and also to restore confidence among its clients.

He said that one Indian IT industry cannot mar the image of emerging trillion-dollar economy with the second-highest growth rate among the major developing countries.

"The adverse fallout of the (wrong-doings) in a single company cannot be allowed to cast its shadow on the entire Indian IT industry worth 60 billion dollars," Mukherjee said.

India is an attractive economic partner for the entire world with external trade of around 350 billion dollars and FDI of around 25 billion dollars per year, he said.

Mukherjee also opined that: "I remain confident that we will be able to attract more FDI and that FII flows will return to our markets because this is where growth is happening and profits can be made."

OneIndia News (With inputs from Agencies)

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