Ambani feud will spook global investors: Report

Posted By: Staff
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New Delhi, Sep 11: The Ambani gas feud will affect global investors' confidence in India, says a report in a US-based monthly magazine, Energy Tribune.

The report which says that the India government owns the natural gas resources at stake in the Ambani dispute, urges the government to set priorities for the usage of gas and the pricing to prevail.

"The government-set price must prevail to continue to provide an attractive domestic business environment, increase domestic energy supply and strengthen global energy security," Energy Tribune editor-in-chief Michael J Economides argues in the report.

"As other economies around the world start to regain their confidence in global markets, investors are again beginning to look for new places to build companies, create jobs and facilitate new social development."

"Yet, the current Ambani brother dispute seriously hurts investors' confidence in India, and that spells danger for future generations in India who will need a greatly-expanded energy supply to power their dynamic economy," the report said.

Speaking on the same lines, the finance minister, Pranab Mukherjee had earlier pointed out that the battle between the two businesses that account for a big portion of India's GDP will affect the the country's economy adversely.

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