One scam cannot be allowed to harm IT industry: Pranab

New Delhi, Feb 12 (PTI) Asserting that the Satyam scam
cannot be allowed to harm the prospects of the Indian IT
industry, the government Thursday said it will make every
effort in getting to the bottom of this fraud.

"We will spare no effort in getting to the bottom of
this terrible scam and will take whatever measures are
necessary on the basis of the findings," India's External
Affairs Minister Pranab Mukherjee, who is also holding the
finance portfolio, said at the Annual General Meeting of
Ficci.

The government acted swiftly and is doing everything in
the domain of investigations, protecting the livelihood of
thousands of employees and restoring confidence among clients.

Without naming Satyam, he said this one single aberration
does not undermine either the reputation of the Indian IT
industry or the country's standing as an emerging trillion
dollar economy with the second-highest growth rate among the
major developing countries.

"The adverse fallout of the (wrong-doings) in a single
company cannot be allowed to cast its shadow on the entire
Indian IT industry worth 60 billion dollars," Mukherjee said.

Mukherjee said India is an attractive economic partner
for the entire world with external trade of around 350 billion
dollars and FDI of around 25 billion dollars per year.

"I remain confident that we will be able to attract more
FDI and that FII flows will return to our markets because this
is where growth is happening and profits can be made," he
said. PTI