Assocham warns of capital loss to WB due to bandh culture

Kolkata, Dec 26 (UNI) Leading industry body Assocham has warned that the state could lose Rs 20,000 crore of committed investments if the return of bandh culture and agitation derailed the Tata Motors project in Singur.

Pointing out that its assessment was based on feedback from its four member chambers in West Bengal, Assocham representatives today cautioned Chief Minister Buddhadeb Bhattacharejee-led government to resolve the Tata Motors impasse as early as possible to avoid any negative impact.

It said recent developments leading to incessant bandh calls and agitation on Singur issue had not only shaken the faith of investors in the West Bengal administration, demotivated and discouraged them.

"The investors are having second thought whether to retain their investment committments in the state or carry them elsewhere," according to Assocham's findings on 'Industrial prospects of West Bengal'.

The findings warned if the strikes and bandhs are not defied by people and the state machinery, the state might recede to the pre-1975 era, which forced major industrial houses of the state to relocate to other states like Delhi, Haryana, Rajasthan and Madhya Pradesh.

Trinamool supremo Mamata Banerjee continued on her hunger strike for the 23rd day, having refused several dignitories including Prime Minister Manmohan Singh, Lok Sabha Speaker Somnath Chatterjee and veteran Marxist Jyoti Basu among others.

Mr Bhattacharjee has been urging the leader to come and sit for a dialogue with him and has already sent two letetrs to this effect.

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