IMC urges West Bengal govt to settle Nano car dispute

Mumbai, Sep 11 (UNI) The Managing Committee of Indian Merchants' Chamber (IMC) has appealed to the West Bengal government, the Tatas and the Trinamool Congress to settle the dispute of Nano car plant at the earliest.

IMC President, Mr M N Chaini, summing up the Managing Committee's consensus, in a press statement, said ''The present crisis faced by the Tatas' Nano project will certainly lead to major convulsions in other mega projects like Rs 15,000-crore Kalinganagar in Orissa, Rs 12,350-crore Nandagudi in Karnataka, Rs 30,000-crore Raigad SEZ in Maharashtra, Rs 12,000-crore Dadri in UP, Rs 40,000-crore Gurgaon-Jhajjar in Haryana and Rs 40,000-crore Keonjhar project in Orissa, together totalling about Rs 2.5-lakh crores. India at this stage can ill-afford such a loss.'' ''For any reason, if India misses the bus at this juncture, it would not be able to catch up with the advancing countries for a long time to come,'' he warned.

Indian Merchants' Chamber apprehends that the setback caused to the Tatas' Nano Car project in Singur due to agitation by the Trinamool Congress (TMC) in West Bengal is bound to severely undermined by the foreign investors' confidence, leading to a slowdown in all sectors of the 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 (USD 2,500) small car project. The project, which has the potential to generate thousands of direct and indirect jobs, should start immediately in the larger consumer and national interest.

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