Financial Daily from THE HINDU group of publications
Thursday, Jun 17, 2004
Financial Daily from THE HINDU group of publications Thursday, Jun 17, 2004 |
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Industry & Economy
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Foreign Trade `Bureaucratic hassles, big problem for global investors' Our Bureau
Chennai , June 16 "INDIA should try to make life easier for the businessmen." Not major policy issues but bureaucratic hassles were a problem for international investors, according to Mr Jacques Derron, of the Swiss Embassy. In his regular interactions with Swiss companies in India, when he asks them to list the problems faced by them, issues invariably pertain to `day-to-day business.' He had compiled a list of 25-30 such problems to present to the departments concerned, and these were `mainly connected with the bureaucracy', he said. Mr Derron was responding to questions from presspersons here, at a meeting with the Southern India Chamber of Commerce and Industry. Biotechnology is one major area of interaction with India that the Swiss are looking forward to. "But it is extremely difficult to raise awareness of Swiss companies (about India's potential.) For the time being - I am sorry to be critical - it could be better than what it is." India should work on improving its image in the international markets, he said. As to investments into India, he felt that international investors were going to wait to see how the new Government's Common Minimum Programme is implemented. The Swiss for their part had a lot to offer. Over 60 per cent of their gross domestic product came from exports, a large part of which comprised machinery and instruments that India could use. Their exports to India had gone up by 32 per cent in the first quarter this year. India's exports to Switzerland, which had dipped by 3.1 per cent last year, had picked up in the first quarter this year, he said. "We offer value. Make life as easy as possible," he said.
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