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The Federation of Karnataka Chamber of Commerce and Industry (FKCCI) favours early end to political impasse in the state.
Mr J.R. Bangera, FKCCI President, in a release, said, “the political uncertainty should end soon as it is not good for the state's economy. Karnataka is known not only for its good climate, but is also a state which is conducive for attracting huge investments.”
“It is very unfortunate that political turmoil over a period of time is affecting the investors' confidence and particularly at a time when the State is planning the Global Investor's Meet in 2012 and the Global Agro Processing Investors meet in October,” he added.
Further, investments which are already in the pipeline and are at an implementation stage will also get affected.
Investment climate
Mr Bangera said new infrastructure projects in Gujarat, Andhra Pradesh, West Bengal, Tamil Nadu and Orissa are set for a major push duringthe next five years starting 2012. In such a scenario, Karnataka cannot afford to be left behind.”
The business community feels it is high time that the issues are resolved soon as it will affect the investor sentiment.
Stability factor
“Leaders at the helm of affairs have to understand that investments pour in not only due to private entrepreneurship and business acumen but also have to be backed by a stable government. Uncertainties push the investments to the other States where there are stable governments,” felt Mr Bangera.
“FKCCI hopes that the interest of the people of Karnataka and that of industry and commerce would not take a back seat. The political impasse should end and the State machinery should get back to its activity sooner,” he added.
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