Singur row will unleash fear among investors, says Murthy

August 31st, 2008 - 9:42 pm ICT by IANS  

Bangalore, Aug 31 (IANS) Infosys Technologies Ltd chairman and chief mentor N.R. Narayana Murthy Sunday said the agitation at Singur in West Bengal over land acquisition for Tata Motors’ Nano project would unleash fear and uncertainty among Indian and overseas investors.“What has happened in Singur is unfortunate for West Bengal, India and all progressive Indians. The event (agitation) will unleash fear and uncertainty in investors - Indian or foreign,” Murthy said here in a statement.

Urging stakeholders to settle the farm land issue in a peaceful, logical and constructive way, Murthy said such agitations would be a stumbling block in the excellent economic growth over the decade.

“The agitation will be a setback for job opportunities to youngsters in West Bengal. It is time all well-intentioned Indians stand up and demand a solution to the land issue in Singur and elsewhere in India,” Murthy added.

The stand-off between the West Bengal government and Trinamool Congress-led agitators over the return of 400 acres of land acquired for the Rs.15-billion or $375 million Nano car project has forced the automobile firm to suspend operations since Friday and evacuate 800-odd engineers and executives.

The additional land was acquired by the West Bengal government to facilitate the setting up of ancillary units adjacent to the 637 acres of land leased to the auto major for manufacturing the Rs.100,000 ($2,500) Nano car, the world’s cheapest.

Tata group chairman Ratan Tata Aug 22 threatened to pull out of Singur if the agitation by farmers who refused to take the compensation continued.

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