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Opportunity lost: Industry

The Tatas’ decision to withdraw from Singur is a retrograde move and West Bengal will now have to rebuild its image once again to woo investors, said a rattled industry.

india Updated: Oct 04, 2008 01:15 IST
HT Correspondent

The Tatas’ decision to withdraw from Singur is a retrograde move and West Bengal will now have to rebuild its image once again to woo investors, said a rattled industry.

Foxed by the decision, although it had looked imminent for some time now, industry captains feel the exit of Nano from the state can best be described as an “opportunity lost”, but it would be prudent to look forward rather than back and learn from the mistake.

JSW Bengal Steel, which is putting up the biggest industrial project in the state, is hopeful things will be better in the long run. Biswadip Gupta, JSW Bengal Steel’s managing director and CEO, said there are a couple of things one should be cautious about from now on. “Let's not talk about losses. It certainly is a big loss for the state. What is more important now is that the state will have to re-build its image once again. We need to look at the projects that are in the pipeline and also those that currently exist. We need to ensure they don’t face problems,” he said.

Indian Chamber of Commerce president Sanjay Budhia said it was definitely a black Friday for Bengal. “There was hope in the morning that something positive may emerge later in the day after Ratan Tata met Chief Minister Buddhadeb Bhattacharjee. However, that was not destined to be so…,” he said.

Assocham president Sajjan Jindal made it clear that from now on, no big industrial project should come up on fertile land as it is bound to attract controversy.

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