The Hindu : New Delhi News : “CEO killing will sully India’s image among investors”

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Thursday, Sep 25, 2008
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New Delhi

“CEO killing will sully India’s image among investors”

Sandeep Joshi

Italian embassy expresses shock
ASSOCHAM demands stringent action

NEW DELHI: Condemning the killing of L.K. Chaudhury, Chief Executive Officer (CEO) of Italian firm Graziano Trasmissioni, by dismissed factory workers in Greater Noida, leading industry chambers have said such incidents would dent India’s image as an investor-friendly and business-friendly economy.The Italian embassy has expressed shock and asked Indian authorities to take strict action against the guilty.

In a press communiqué, it said the unrest was repeatedly brought to the notice of the Central and local authorities.

“The Embassy of Italy is confident that the Indian judicial authorities will prosecute and punish the perpetrators of such crimes and that Indian authorities will ensure that such tragic events will not be repeated and industrial disputes will be resolved without violence,” it added.

Expressing concern over the law and order situation in Greater Noida, the Indo-Italian Chamber of Commerce and Industry said trade unions should conduct themselves with maturity and responsibility.

“Labour unrest takes place everywhere but it is unfortunate that in this particular incident, things went out of hand,” its northern region chairman Diljeet Titus said.

The Indo-American Chamber of Commerce said the incident set a bad precedent for Uttar Pradesh as the State needed investments and job opportunities.

The Confederation of Indian Industry (CII), the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM) have also condemned the killing.

“Such instances of industrial violence cannot be a solution to any problem and must not be tolerated,” the CII said in a statement and urged authorities to take exemplary action. The FICCI said “such a dastardly and heinous act” was bound to sully India’s image amongst overseas investors and deserved “our utmost condemnation”, while ASSOCHAM president Sajjan Jindal said the U.P. administration must take stringent action to restore the confidence of investors in the State.

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