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CAA protest hit investments: Patowary

By Staff Reporter

GUWAHATI, Dec 28 - Industry and Commerce Minister Chandra Mohan Patowary today said that in the wake of the recent violent protest against the amended citizenship Act, the outlook of the foreign investors has been largely hit, with potential investment groups from countries like Norway and Hungary expressing their reservations.

Addressing a press conference here today, Patowary said, �They are asking whether it is safe here in Assam. We are trying to convince them that the situation in the State is normal and that the violence was the handiwork of a handful of miscreants.�

Patowary informed that the investment plan of Norway and Hungary, estimated at Rs 2,000 crore each, is under the cloud now, although the State government is pursing from its end to get it materialized.

If the climate of investment gets affected, like it has due to the recent protests, it would directly have an adverse bearing on the employment generation in the State, the minister said. �Even some of the Indian companies are reluctant to invest in the State in the event of the recent violence,� Patowary said.

�We already have around 22 lakh unemployed youths and the opportunities in the government sector are not enough to absorb the huge pool of unemployed in the State,� the minister told the media-persons.

He, however, added that post the �Global Investment Summit � Advantage Assam� held last year, the State has already received investment to the tune of nearly Rs 65,000 crore, which he said was a record in itself.

He added that the major chunk of the investment has been received in the oil and petroleum sector at Rs 42,782.28 crore, while other departments (excluding Industries and Commerce) have received investment of Rs 3166.25 crore post-Advantage Assam.

Patowary further said that the Centre is laying special stress on implementation of Clause 7 of the Assam Accord, which deals with economic uplift of the State, besides implementation of the Clause 6 aimed at providing constitutional safeguards to the indigenous people.

He further divulged that missing out on the India-Japan Summit, which was scheduled to be held in Guwahati, was a big loss. The Indo-Japan summit was postponed after the anti-CAA protests turned violent.

Patowary added that the government is laying special stress on improving connectivity be it rail, road or airways.

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CAA protest hit investments: Patowary

GUWAHATI, Dec 28 - Industry and Commerce Minister Chandra Mohan Patowary today said that in the wake of the recent violent protest against the amended citizenship Act, the outlook of the foreign investors has been largely hit, with potential investment groups from countries like Norway and Hungary expressing their reservations.

Addressing a press conference here today, Patowary said, �They are asking whether it is safe here in Assam. We are trying to convince them that the situation in the State is normal and that the violence was the handiwork of a handful of miscreants.�

Patowary informed that the investment plan of Norway and Hungary, estimated at Rs 2,000 crore each, is under the cloud now, although the State government is pursing from its end to get it materialized.

If the climate of investment gets affected, like it has due to the recent protests, it would directly have an adverse bearing on the employment generation in the State, the minister said. �Even some of the Indian companies are reluctant to invest in the State in the event of the recent violence,� Patowary said.

�We already have around 22 lakh unemployed youths and the opportunities in the government sector are not enough to absorb the huge pool of unemployed in the State,� the minister told the media-persons.

He, however, added that post the �Global Investment Summit � Advantage Assam� held last year, the State has already received investment to the tune of nearly Rs 65,000 crore, which he said was a record in itself.

He added that the major chunk of the investment has been received in the oil and petroleum sector at Rs 42,782.28 crore, while other departments (excluding Industries and Commerce) have received investment of Rs 3166.25 crore post-Advantage Assam.

Patowary further said that the Centre is laying special stress on implementation of Clause 7 of the Assam Accord, which deals with economic uplift of the State, besides implementation of the Clause 6 aimed at providing constitutional safeguards to the indigenous people.

He further divulged that missing out on the India-Japan Summit, which was scheduled to be held in Guwahati, was a big loss. The Indo-Japan summit was postponed after the anti-CAA protests turned violent.

Patowary added that the government is laying special stress on improving connectivity be it rail, road or airways.