Drop in foreign investment

March 15 2011

The eclipse of 2G scam may shadow foreign investment in the country. Germany has actually sent out an advisory that German industrialists should invest in India cautiously. Telecom companies such as Etisalat from the Middle East and Telenor from Sweden are also facing problems since their 2G license may be taken away. Their logic is, “Why are we being blamed when we have bought the license at market rates. You should be after those who bought the license dirt cheap and then sold it off to us at high price.” Which would mean the finger may point at Tata, Ambani, Unitech and others. Corporate India, thus, is more than miffed with the current government and wants the Manmohan Singh government to go. The Dramuk trouble was a forerunner to this, since industrial houses are helping the party and fanning the fire. It is said that even Tata bought the 2G spectrum license at Rs 1600 crore and sold it at Rs 12,000 crore. But no one’s pointing any fingers there.

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