• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

The World Bank had better watch out. After battling the Left parties and non-governmental organisations (NGOs) in India, it has run up against a formidable critic this time. At an Indo-American Chamber of Commerce meeting in the capital recently, the US Ambassador to India, David C. Mulford, was all in superlatives about the India growth story, telling the visiting delegates that, "You are arriving in India at a time when... India is poised, rising, emerging and more fundamentally, transforming... ''

Having said that, Ambassador Mulford had an interesting observation. "This rising FDI seems at odds with global competitiveness assessments such as the World Bank's Doing Business Report, where India is commonly placed in the bottom fifth of rankings. It seems to me that corporate leaders are using another calculus for their decisions to enter India that are not yet captured in these lagging indicators.'' If that was not enough embarrassment for the World Bank, the likes of Vodafone and others queuing up for the India entry should prompt that organisation to reassess its "recommendations".

Our Bureau

More Stories on : RBI & Other Central Banks | Industry Associations

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Banks concerned about price volatility in farm lending

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line