Investment prospects may take a hit due to religious tension

  • Sumeer Singh, Hindustan Times, Ludhiana
  • Updated: Oct 18, 2015 21:55 IST

Amid rising tension following the desecration of holy Guru Granth Sahib at various locations in the state, industrial units in Ludhiana as well as state have invited a huge threat to its investment prospects.

Industrialists in the city believed that the investment prospects for the recently-proposed mega industrial project to the tune of Rs 1,200 crore would directly be dictated with the recent communal disturbances in the state.

Badish Jindal, vice-chairman of the National Productivity Council, said, “It is a big threat to the investment prospects of the industry in Ludhiana as well as state. It is such communal disturbances which could go long way to dictate the investment decisions of the major players from outside the state who otherwise sought Punjab as a lucrative proposition to invest in the existing as well as establishing their own fresh industrial units here.”

“While the Punjab government in view of upgrading the industrial scene of the state has proposed mega industrial projects, some mischievous elements are busy in tarnishing the image of the state, which will have wider repercussions on the business prospects here. The investors from outside the state who were most likely to venture here may not receive the recent communal disturbances in the state in a good taste,” Jindal said.

It is pertinent to mention here that the state government had recently announced an industrial investment project worth Rs 1,200 crore where, investors would get various concessions and subsidies.

SAD industrial wing president Satish Dhanda said, “The disturbances on religious grounds are often aimed at targeting the ruling government, which also maligns the image of state. It is mischievous elements in our society, who often hatch such conspiracies, but state government is devoted to maintain peace and order situation in the state and perpetrators of such incidents will soon be brought to justice. Such tensions often discourage investors or business community from outside state to venture here if it persists for longer duration.”

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