N-deal failure could hit FDI inflow: Tata

Tata Sons Chairman Ratan Tata has said any failure of the Indo-US nuclear deal would be a "serious setback" for India and could impact inflow of foreign direct investments to the country.In an interview with Karan Thapar for Devil's Advocate programme on television channel CNN-IBN, Tata said the civil nuclear deal with the US was in many ways the best possible thing that had happened to India in a long time.Asked would it be a setback if the deal didn't materialise, he said: "I believe it is a serious setback to India. I believe the only people happy to see this not happening are probably Pakistan and China." Apprehending implications on FDI inflows if the deal were to fail, Tata said: "I think it could because I think there would be repercussions and there would be reactions." The industry doyen felt a need for the present political system to change and take a re-look at ideologies.On a question if the Left needed to reinvent itself, he declined a direct reply but said: "We all need to reinvent ourselves. Even the Vatican reinvents itself." Hitting out at political parties for "opposing for the sake of opposing," Tata said: "I really do wish we could go back to the days when we had stronger coalitions or single parties in government and a two-party system in the House where you really dealt with issues and serious ideologies."