SIAM calls for early resolution in Singur

New Delhi, Aug 29 (UNI) Expressing disappointment over the Singur turmoil, The Society of Indian Automobile Manufacturers (SIAM) has urged for a speedy resolution of the dispute.

According to the auto body, Tata's invest of 1,500 crores in the project will result in a product that is global in stature and hence is being keenly watched by the world.

The company's dream car project can change the lives of people in the area and also revive industrialisation in West Bengal and other eastern regions of the country, it said in a statement.

The progress of the project is such that the factories have been built and therefore it is important to find a solution that does not adversely affect the investments being made and most importantly the overall competitiveness and viability of the project is not lost.

SIAM has also appealed to all concerned parties that a process must be initiated to arrive at a solution that would take forward the project so that the production targets are not missed.

Such a solution will ensure that the investments of over Rs 70,000 crores committed by the industry to be made in the country over the next few years is on right track, it added.

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