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Gujarat riots not to hit FDI flow, says PM

Prime Minister Atal Bihari Vajpayee on Monday asserted that the 'painful' communal violence in Gujarat would not affect the foreign investment climate in India, which, he termed as 'good'.

Allaying apprehensions that foreign investment might suffer because of the Gujarat riots, Vajpayee said: "The incidents were more in the minds of the Indians living abroad. Now the situation is under control. The recent climate will not affect business climate in India."

The prime minister, who is on a three-day visit to the city-state, was replying to questions from reporters after addressing a large gathering of Indians based in Singapore.

"The investment opportunities in India are good. New beginning has been made in several areas. We are making efforts to shorten delays and ease procedures," he said appealing to industrialists in Singapore to invest in India.

On the Gujarat riots, he said it called for "serious introspection" as to why the "painful and sad" events took place.

"We are a democracy, the biggest democracy in the world. Democracy also creates certain difficulties which we must overcome," he said.

Referring to Sunday's police lathi charge in Ahmedabad in which some mediapersons were injured, Vajpayee voiced concern over it and said an inquiry has been ordered and one police officer removed.

"Journalists give us news, but this time they have become news themselves," he remarked.

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