Union Information Technology Minister Pramod Mahajan has stressed that the debacle of the Dabhol Power Project would not have a major impact on foreign investments in India, but said it was a sensitive issue which could have some impact.

Mahajan, who hails from Maharashtra, where the two billion dollar project of US energy major Enron is situated, said, “The state government is dealing with it and if necessary, the central government would take its own initiative”.

The minister urged the investors to take a look at India's track record over the last 50 years, during which it has never defaulted on any international agreement.

An isolated incident should not have any effect on their investment decisions in India, which welcomes them, he said at a seminar organised by the Confederation of Indian Industry (CII) on Thursday.
Mahajan invited investors to start ventures in the it sector, saying India now provides the best possible environment for the purpose and has removed all constraints. Bureau Report