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United we stand - only at an hour of crisis! - Views on News from Equitymaster
 
 
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  • Nov 28, 2008

    United we stand - only at an hour of crisis!

    The Prime Minister, Dr Manmohan Singh, in his address to the nation yesterday, called for unity to face the grave challenge to the nation's security and integrity. In a nation where politicians and lawmakers are busy satisfying their vested needs by dividing the nation on the basis of caste and religion, it took a 32-hour combat with terrorists to bring the need for ‘unity' to the fore.

    The 32-hour ordeal that has held the city of Mumbai to ransom has led to loss of more than 125 lives, including that of top security personnel, property and more importantly damaged India's perception in the minds of people from other parts of the world. Failures of intelligence and security systems, poor disaster management infrastructure and risks to those visiting the country for leisure or business purposes are certain things that will continue to reflect the nation in poor light for some time to come.

    Tourism and sectors that are related to it, inflow of foreign money and business confidence are some of the areas that are likely to bear the brunt of the terrorist assault.

    However, investors with a long term perspective have no reason to panic. Infact, Mr Mark Mobius, Managing director of Templeton Asset Management, who is leading a team of foreign Institutional Investors (FIIs) to India, believes that the Mumbai terror attacks will not have any long-term impact on India's attractiveness as an investment destination. In an interview to a leading business channel yesterday he said, "We might see a change in attitude of short-term and long-term investors, but the overall impact will be temporary. The risk premium on India, however, will be affected".

     

     

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