Vedanta episode won't tarnish India's image: Montek

The Plan panel on Wednesday said the government's refusal to accord environment clearance to Vedanta's proposed USD 1.7 billion aluminium project in Orissa would not tarnish India's image as an investment friendly destination.

The Plan panel on Wednesday said the government's refusal to accord environment clearance to Vedanta's proposed USD 1.7 billion aluminium project in Orissa would not tarnish India's image as an investment friendly destination. "I don't know much about Vedanta, but yesterday's development will not undermine India's image as investment friendly nation," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters after inaugurating an exhibition-cum-sale organised by the Central Cottage Industries Corp here.

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In a big blow to Vedanta Resources, on Tuesday, the government had rejected environment clearance to company for bauxite mining for the USD 1.7 billion aluminium project in Orissa. The government took this decision after accepting recommendations of the Forest Advisory Committee (FAC) headed by N C Saxena which sought ban on the mining project in Orissa's Niyamgiri hills in view of various violations at the site.