INDUSTRY VIEW - Left parties withdraw support to govt

MUMBAI (Reuters) - Following are the reactions from the Indian industry after communist parties said on Tuesday they are withdrawing support to the coalition government to protest a civilian nuclear energy deal with the U.S.

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KETAN DEDHIA, MD, NALANDA SECURITIES:

"The market is reacting positively and a lot of short covering is taking place. The positive from the Left's withdrawal will be that the nuclear deal goes through, which will benefit some Indian companies.

"Elections will also now be postponed for at least six months, so that uncertainty is gone. Hopefully, some pending reforms may also take place."

AMAR LULLA, JOINT MANAGING DIRECTOR, CIPLA LTD

"Any uncertainty is not good for the pharma industry. Especially right now that we are passing through a very difficult phase, with inflationary pressures and high oil prices. It does not bode well for the industry.

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