The rift between TDP and YSRC is slowly costing the state its future. After YSRC came into power, several already signed projects that were backed by international investors were reopened and renegotiated. May be the AP state government wants to show the people on how much they are saving compared to the old government. As per the central government, these strategies of YS Jagan were making international investors lose confidence in India.
Canada, France and Japan have expressed their dissatisfaction over reopening the already signed projects. Government officials mentioned that the individual decisions by the states were currently costing 21000 Crores of business in Renewable Energy sector alone and as it is a growing future domain, these unilateral decisions may cost India Lakhs of Crores of business in future. Central government is now working on putting a new law which will safeguard foreign investments in India and will save the states from penalties and blacklisting.
AP government stepped back in renegotiation on the issues raised by foreign investors but to avoid this sort of situations in future, BJP government is getting ready to introduce a law limiting state government’s unilateral decisions.
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