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India tonight reacted sharply to Maldives government’s decision to scrap “without due consultation” the contract given to the GMR Group to develop the Male airport saying it sends a “very negative signal” to foreign investors and the international community.
India asked Maldives to ensure Indian interests and security of Indian nationals in the Indian Ocean island country are “fully protected”.
“The decision to terminate the contract with GMR without due consultation with the company or efforts at arbitration provided for under the agreement sends a very negative signal to foreign investors and the international community”, the spokesman of the External Affairs Ministry said when asked to comment on the Maldives cabinet’s decision.
India, he said, expected that Maldives “would fulfil all legal processes and requirements in accordance with the relevant contracts and agreement it has concluded with GMR in this regard”.
The government of India would continue to remain engaged with the government of Maldives on this issue, he added.
Keywords: Scrapping contract with GMR, very negative signal, India reacted sharply, Maldives government’s decision, without due consultation, contract given to GMR Group, develop Male airport, foreign investors, international community
Comments:
Pot calling the kettle black. We cancelled telecom licenses - did we
not.
Good point RG Krishnan!
To add to whatever you have said, GMR is a highly political company. They are close to Congress/ UPA. That is how they got Delhi Airport contract. They could have used their influence at the centre to get Male Airport contract too.
So, I think GMR should just shut down and come back, instead of making this a huge political issue.
ultimately losers are SBI, BOB and other PSU banks which have lent
approximately 20000 crores to GMR
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