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Singur: Industry worried over Tata's comments

August 22, 2008 17:06 IST

City-based industry circles on Friday expressed concern over Ratan Tata's comments that Tata Motors [Get Quote] would be forced to withdraw from the Singur project in West Bengal if violence and disruptions continued.

Chairman of Ambuja Realty Harsh Neotia told PTI that 'itĀ is a very unfortunate development.'

Neotia said that if they pulled out, then the state would suffer a blow in terms of perception. "Future investment flows would be hit."

Confederation of Indian Industry ChairmanĀ (eastern region) and Managing Director of Tata Ryerson Sandipan Chakrabarti said that Tatas pulling out from Singur would send wrong signals to investors.

Vice-Chairman of Emami Limited Aditya Agarwal said that any industry, big or small, pulling out was definitely bad.

"But we will have to understand the problems of the land losers, specially those who were forced to give their land," he said.

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