Unfortunate, says India Inc. about Tata exit from Singur

October 3rd, 2008 - 10:59 pm ICT by IANS  

New Delhi, Oct 3 (IANS) Indian industry and the government were dismayed by the Singur developments, with a cross-section of India Inc describing the situation as unfortunate.* Commerce Secretary G.K. Pillai: “It is an unfortunate development. But we should not read too much into it. This is an individual, isolated, and an exceptional case. A large number of investments are taking place.”

* Associated Chambers of Commerce and Industry of India: “This is the most unfortunate incident of industrial activities in the 21st century.”

* Federation of Indian Chamber of Commerce and Industry: “This was not a one-off auto project but would have given a boost to a whole host of ancillaries as well. Bengal’s tradition of engineering and heavy industry had suffered over time because of lack of fresh investments in these sectors in the state and the gradual closure of many of the old engineering industries.”

* Society of Indian Automobile Manufacturers (Siam), director general, Dilip Chenoy: “Unfortunate development, but given the uncertainties of starting production and safety of the staff at the location, it perhaps was the correct decision.”

* Indian Chamber of Commerce president and Patton Group managing director Sanjay Budhia: “I am extremely depressed and disturbed by this decision. All our hopes for the project were shattered today. We have lost our face completely.”

* Harshavardhan Neotia, chairman of Ambuja Realty Development Ltd: “This is a sad happening. We have to think of something else now to move forward in the path of industrialisation.”

* Pawan Kumar Ruia, chairman, Ruia Group: “This is extremely bad for the state. We have to rise to the occasion and have to keep the industrial pace at a time when the world is facing worst financial crisis.”

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