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Our Bureau

Kolkata , Dec. 6

CLSA, which has fixed 40,000 as the long-term target for the Sensex without specifying a timeframe and stated that India remains Asia's best growth story with the highest valuations, has expressed serious concern about extreme-Left movement in the country.

Broking firm's research report said the Naxalite movement is becoming stronger in the mineral rich pockets of Chhattisgarh, Orissa, Jharkhand, Madhya Pradesh, Maharashtra and Andhra Pradesh.

The report, drawing from the Prime Minister, Dr Manmohan Singh's acknowledgement that the movement has spread to 160 out of 602 districts in the country, indicated that if the socio-economic discontent, particularly among tribals, was not addressed then it may seriously impact mega investments.

"Private sector investments, vital to the overall development of the region, may not take place if the Government cannot find a sustainable solution to what it insists is a law and order problem," said the author of the report, Mr Anirudha Dutta, a CLSA analyst.

There are, however, hardly any sign to suggest that the Government is taking any urgent steps, report points out.

The report further warns that over the past five years, Naxalite activities have increased in the districts surrounding Bangalore.

Given the importance the Naxalite-affected regions in terms of natural resources and the $ 85 billion already committed investments, socio economic issues must be addressed with a sense of urgency.

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