Incidents like Singur shake investor confidence: Software Industry

September 10th, 2008 - 1:11 pm ICT by ANI  

Hyderabad , Sept 10 (ANI): States need to protect investors against farmland acquisition rows as such incidents have a bearing on investors confidence, feel the countrys software industry entrepreneurs in the wake of protests over Tata Motors ”Nano” small car project in Singur.

They say the row over land acquisition in Singur has been a blow to investors.

“In our business typically I think we need uninterrupted operations to continue and we need the support of the Government to make that happen. And incidents like Singur shake the confidence of investors in the industry, also the customers who are actually giving the business,” opined Narasimha Rao, the president of Hyderabad Software Exporters” Association.

In their opinion, employment generation cannot be fulfilled without private enterprise.

“It’’s not a good thing for West Bengal because today the situation is that all the states in the country are trying their best to invite investment. It is a known fact that given the large population that we have in the country, it is never possible for the Government to create employment and create a peaceful society. So for the economic growth of the state, it is inevitable that they have to have a larger private enterprise going on,” said Vipin Chandra, chief executive officer of Knoh Solutions.

Following the frustration evident in the Tata group chairman Ratan Tata’’s statement over Singur land row, software majors Infosys and Wipro, which planned to invest in West Bengal after the State government offered to provide land for the projects, have decided to give their plans a second thought.

The Nano project was billed as a key to the rejuvenation of industries in West Bengal, where the world’’s longest-serving democratically elected Left front Government has changed tack for industrialization of the state after decades of focus on helping agriculture and poor farmers.

But some farmers say they were forced off their land and offered paltry compensation to make way for the factory. Of 1,000 acres (400 hectares) of farmland acquired for the factory, they are demanding the return of around 400 acres. (ANI)

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