Though economic reforms are being pushed by the Indian government on many fronts, notwithstanding, the US feel investors and officials feel that dong business in India is chaotic and have told a visiting top Indian official that doing business in India is “messy”.
“I do understand that many of you may have difficult time in doing business in India”’ the Economic Affairs Secretary Arvind Mayaram said at a reception hosted for him by the US India Business Council (USIBC) .
American investors, corporate leaders and official gave a free and frank assessment of the current investment climate in India, where they said are eager to pump in their money.
At the end of the meeting, the Indian official pointed out that “we are partners in distress”.
During the meetings and also on the Friday reception, Mayaram assured the investors and US corporate sector that the Indian government is determined to take the necessary hard decision to improve upon the climate of investment and make it business friend as quickly as possible.
“I think, you need to stay the course. You need to be there. We are a work in progress, because we are a developing country. We still need to improve our systems and we will continue to move in that direction. I can assure you that as time goes by, doing business in India will not be as messy as you think it is today,” he said.
Senior director and executive vice- president of USIBC, Diane Farrell, who participated in the meeting at the Treasury Department, said that it was a very spirited, honest and forthright discussion.
Mayaram assured US investors that the Indian government is determined to take hard decision to move in the right direction and would continue to review its policy to make them more investor friendly.
Source – PTI