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Home / India News / 2007 / May 2007 / May 3, 2007
Political uncertainty spells doom for Assam investment climate
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Political uncertainty spells doom for Assam investment climate

Violence, kidnapping and political uncertainty in Assam is affecting the investment climate in Assam.

Guwahati (Assam), May 3 : Violence, kidnapping and political uncertainty in Assam is affecting the investment climate in Assam.

While on the one hand, there is a strong urge to climb the ladder of development, on the other, the rebel ULFA's destructive attacks derails the process.

A majority of the Assamese businessmen say that in this scenario it is difficult to consider investing in anything.

The recent abduction of an official of the Food Corporation of India P C Ram, by the ULFA has sent shock waves across the state. There are reports that the army has rescued him.

But this news does not make local businessman Syamol Kumar Deka happy.

A young man with an ambition to excel and expand his business the news of kidnapping, extortion and violence scares him and makes him think negative about the future growth of his new electronic venture.

"Just like the kidnappings are going on like one of the high official just recently. So nobody is feeling secured in staying here no one is feeling that he is working in security. Because whoever is staying here they say that I do not want to stay here I want to go to some other place," said Syamol Kumar Deka.

The recent arrest of two ULFA members with a large cache of arms and ammunition in Guwahati proves how danger lurks in the heart of the state's main city.

The ULFA now operates more as an organization that extorts, rather than a rebel outfit fighting for a cause.

"People can invest when there is a peace in the state. There have been recent incidents of kidnappings, looting, ransom from the businessmen. These incidents are harming the business. People from the outside state fear to invest here. Bandh calls actually takes us backwards.

People fear to invest money in business, as they fear that militants group might extract money from them. This retards business in the state," Tonmoy Bordoloi, a businessman

With markets in the North East about to take off, this fear psychosis in the minds of entrepreneurs acts as a hurdle in their smooth functioning.

Guwahati needs to position itself as an international business hub, but political uncertainty comes in the way.

Real estate developers like Brojen Kumar Handique are paralysed by fears of being kidnapped.

"We want peace in Assam, not only in Assam, but also in the entire North East. Only then will the region progress. I am from Assam and we want peace. This is essential for development, " says Handique, the General Secretary of the Real Estate Developers' Association of Guwahati.

However, the Central Government's Look East policy is light at the end of a dark tunnel as far as the North East is concerned.

People in the region want to move ahead and enjoy the fruits of development and peace.

ANI

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