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Investors apprehensive of Bengal’s policies: Assocham


Kolkata : The West Bengal government must take measures to attract big investment as industrialists are still “very apprehensive” about its policies, industry group Assocham said Wednesday.

“Still the people are very apprehensive of the state government…Once they attract an investment to the extent of Rs.10,000 crore or so, then that will be the real indication that the state is willing to attract investors,” Associated Chambers of Commerce and Industry of India (Assocham) secretary general D.S. Rawat told reporters here on the sidelines of a seminar on “Positioning Bengal-Partnering for Growth, Development and Sustainable Security”.

He said investment proposals to the tune of Rs.5.84 lakh crore were still pending with the state due to a global economic slowdown coupled with a “wait-and-watch policy” taken by the entrepreneurs in the post-Singur land agitation scenario.

“People also became apprehensive that what has happened to the Nano (car’s Singur) project should not happen to me. And therefore a wait-and-watch policy was adopted,” he said.

Tata Motors had pulled out its Nano car project from Singur town in Hooghly district following a strong anti-land acquisition movement there.

“The state should say come what may, they are going to support the project and it will come up on time,” Rawat said.

According to a study released by Assocham, “Job Trends Across Cities and Sectors”, job creation in Kolkata dipped over 33 percent in the first quarter of this fiscal as compared to the preceding quarter.

More than 1.5 lakh jobs were generated across India in the fourth quarter of the last financial year, of which over 8,200 were generated in the city.

Kolkata’s share in total job creation across the country was a paltry 4.3 percent as compared with Delhi-national capital region, which accounted for over 23 percent, the study said.