Financial Daily from THE HINDU group of publications
Thursday, Oct 14, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 14, 2004 |
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Opinion
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Letters Press Note 18
This is with reference to "Press note 18: Preventing conflict of interest, not FDI" (Business Line, October 12). The need for smooth flow of FDI into the country cannot be overemphasised. The FDI has to be part of the reforms process, as it is essential for achieving higher rate of investment in the economy. It is true that Indian companies have taken advantage of the guidelines contained in the Press Note 18 of 1998 and that some business ventures have been stalled. It is a fact that the country is yet to create an investment-friendly environment. If the Press Note 18 is an entry barrier, as perceived by foreign investors, thereby blocking smooth flow of FDI, what is wrong in scrapping it? V. Venugopal Chennai
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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