Kolkata: The Confederation of Indian Industry (CII) is conducting a study in collaboration with IIM (Ahmedabad) to assess the impact of the Gujarat violence on the investment scenario in the country.

"The statements coming from some quarters trying to suggest that the violence in the state had no impact on Foreign Direct Investment (FDI) is erroneous," CII's new president Ashok Soota told reporters in Kolkata on May 8.

Describing the unabated violence in Gujarat as a 'human tragedy', Soota said that the very fact that a large number of people continued to live in camps was a matter of 'shame'.

About statements that the violence had led to loss of Rs 800 crore, he said, "a good part of that assumption was on account of deferred losses, the impact of which would be seen over a long period, while the rest was pure economic loss in the form of insurance claims."

Soota said the CII-IIM study would be completed soon and cover all aspects of violence going on for over two and half months in Gujarat.

PTI