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 Foreign funds
This is with reference to "Gimmicks for foreign funds" (Business Line, October 13). The editorial rightly emphasises that concrete steps should be taken to attract FDI. As the German Chancellor, Mr Gerhard Schroeder, pointed out recently, the biggest roadblock to foreign investments in India is an inefficient bureaucracy. Reports reveal that only 20 per cent of FDI approvals translate into actual investments in India. The bureaucratic bottleneck is the main reason for this. Lack of quality infrastructure is also an impediment. Notably, India has also underrated their neighbours, especially the SAARC countries. Experience shows that cultural proximity also plays a vital role in attracting FDI. India should explore possibilities of increasing their trade with SAARC countries. The setting up of SAFTA will certainly increase the FDI inflows to India. C. Ramesh Keeramangalam (TN) Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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