Singur has made US investors wary, says US consul-general
The political tussle over the Tata Motors small car project at Singur has made US investors wary of investment, US consul-general in Kolkata Beth Payne on Friday said.autos Updated: Sep 26, 2008 19:03 IST
The political tussle over the Tata Motors small car project at Singur has made US investors wary of investment, US consul-general in Kolkata Beth Payne on Friday said.
Speaking at an interactive session organised by CII (eastern region) here, Payne said the Singur development had forced cancellation of the proposed visit of USIBC trade mission to the city this week.
"The trade mission was very excited to come to the city. But the developments taking place there had led to the cancellation," Payne said.
She said US investors were very particular about respect for contracts and signed agreements. The trade mission is wondering if Ratan Tata is not able to succeed in West Bengal, how US investors would.
Talking about West Bengal, she said the state had an educated workforce, low attrition rate and low cost of living. "These characteristics make the state an attractive investment destination."
"It is regrettable that the state missed the opportunity," the envoy said.