News / Asia

    India Rejects Obama's Concerns About Investment Climate

    People walk past an American apparel brand store in Bangalore, India, January 11, 2012.
    People walk past an American apparel brand store in Bangalore, India, January 11, 2012.
    Anjana Pasricha
    NEW DELHI — Indian officials have rejected U.S. President Barack Obama's reported concerns that India's investment climate is deteriorating.  Officials in New Delhi are pushing back, saying India is friendly to foreign investors.

    In an interview with the Press Trust of India Sunday, U.S. President Barack Obama said that in too many sectors, such as retail, India limits or prohibits foreign investment.  Indian Commerce Minister Anand Sharma responded to the American leader's comments a day later, saying “observations are observations.”

    “There is a difference between perception and reality, reality is different," said Sharma. "India has an abiding commitment to economic reforms and liberalization. We would like to assure all our partners that we have an investor friendly climate.”

    PTI quoted President Obama as saying that American businesses “tell us it is still too hard to invest in India.”

    Obama praised the Indian economy, saying it is growing at an impressive rate. But he said there appears to be a growing consensus in India it may be the right time to press ahead with another wave of economic reforms.

    Minister Sharma says the Indian government has put policies in place to welcome investors. “In all the global projections, if you look at the IMF [International Monetary Fund] and the World Bank reports, for the next three years also, India will remain one of the top three destinations attractive for investors,” he said.

    Corporate Minister Veerappa Moily said President Obama is not properly informed and blamed “international lobbies” for spreading negative information about India.

    Lawmakers from opposition parties also criticized the American president’s remarks.

    President Obama’s observations have come in the wake of growing concerns expressed by many foreign and domestic investors about India’s failure to further liberalize its economy and about the hurdles posed by India’s regulatory framework.

    During a visit to India last week, Singapore’s Prime Minister Lee Hsien Loong called India’s business environment “complicated.”

    Some Indian officials agreed that there is need to make India's more business-friendly for outside investors.  

    “I don't think we are taking any different view that we need to strengthen the investment climate,” said Montek Singh Ahluwalia who heads India’s Planning Commission.

    In recent weeks, Indian Prime Minister Manmohan Singh too has spoken about the urgent need to take steps to boost foreign as well as local investment, which has been falling in recent months.

    Analysts say Singh wants to take steps to move ahead with reforms in sectors such as retail and insurance, but opposition from political allies has made the task difficult.

    You May Like

    Video Rubio Looks to Surge in New Hampshire

    Republican presidential candidate has moved into second place in several recent surveys and appears to be gaining ground on longtime frontrunner Donald Trump

    UN Calls for Global Ban on Female Genital Mutilation

    Recent UNICEF report finds at least 200 million girls and women alive today have undergone female genital mutilation in 30 countries

    UN Pilots New Peace Approach in CAR

    Approach launched in northern town of Kaga Bandoro, where former combatants of mainly Muslim Seleka armed group and Christian and animist anti-Balaka movement are being paid to do community work

    This forum has been closed.
    Comment Sorting
    Comments
         
    by: Randy R from: canada
    July 17, 2012 10:17 AM
    India should learn to take positive criticism.President Obama is right,even World bank and IMF rate india at the bottom when it comes to easy of doing business and investing in the country.

    by: John from: German
    July 17, 2012 12:01 AM
    Actually, I prefer China rather than India.
    Simple reason: the population in India is growing too fast to feed.

    by: trish from: USA
    July 16, 2012 5:46 PM
    What the Indian officials and opposition leaders stated on the latter part of the article re: the necessity to make India more business-friendly is exactly what Mr. Obama was talking about. Yet they insisted Mr. O had to be wrong. They are starting to sound like our "ultra -right" Republicans that counter everything Mr. O prepares and/or gets through. Yet they have nothing better to replace these items with other than exactly what he put up there. Both groups seem to not what Mr. O to be right, before they are right. In other words, if it were they that put up the changes first, those same ones he was talking it about, all would be right with the world. No one can give credit where credit is due??? How egotistic!!!

    by: K PURUSHOTHAMAN from: NOW IN WEST AFRICA
    July 16, 2012 3:23 PM
    INDIA HAS NOT REJECTED, INDIAN CIVIL SOCIETY, INDIA'S BUSINESS MINDS, PUBLIC GIVE CAREFUL ATTENTION TO COMMENTS ESPECIALLY OF GOOD ECONOMIES LIKE US.
    IT IS THE POLITICIANS WHO REJECT OR OVER REACT TO ANY CRITICISM... FORGET ABOUT THEM... AS WE INDIANS TEND TO IGNORE THEM... INDIA IS GROWING BY GOD'S GRACE AND IN SPITE OF OUR POLICITIANS...

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    German Artists to Memorialize Refugees With Life Jacket Exhibiti
    X
    Hamada Elsaram
    February 05, 2016 4:30 PM
    Sold in every kind of shop in some Turkish port towns, life jackets have become a symbol of the refugee crisis that brought a million people to Europe in 2015.  On the shores of Lesbos, Greece, German artists collect discarded life jackets as they prepare an art installation they plan to display in Germany.  For VOA, Hamada Elrasam has this report from Lesbos, Greece.
    Video

    Video German Artists to Memorialize Refugees With Life Jacket Exhibit

    Sold in every kind of shop in some Turkish port towns, life jackets have become a symbol of the refugee crisis that brought a million people to Europe in 2015.  On the shores of Lesbos, Greece, German artists collect discarded life jackets as they prepare an art installation they plan to display in Germany.  For VOA, Hamada Elrasam has this report from Lesbos, Greece.
    Video

    Video E-readers Help Ease Africa's Book Shortage

    Millions of people in Africa can't read, and there's a chronic shortage of books. A non-profit organization called Worldreader is trying to help change all that one e-reader at a time. VOA’s Deborah Block tells us about a girls' school in Nairobi, Kenya where Worldreader is making a difference.
    Video

    Video Genius Lets World Share Its Knowledge

    Inspired by crowdsourcing companies like Wikipedia, Genius allows anyone to edit anything on the web, using its web annotation tool
    Video

    Video Former Drug CEO Martin Shkreli Angers US Lawmakers

    A former U.S. pharmaceutical business executive has angered lawmakers by refusing to explain why he raised the price of a life-saving pill by 5,000 percent. Martin Shkreli was removed from a congressional hearing on Thursday after citing his Fifth Amendment right to stay silent. Zlatica Hoke has more.
    Video

    Video Super Bowl TV Commercials are Super Business for Advertisers

    The Super Bowl, the championship clash between the two top teams in American Football, is the most-watched sporting event of the year, and advertisers are lining up and paying big bucks to get their commercials on the air. In fact, the TV commercials during the Super Bowl have become one of the most anticipated and popular features of the event. VOA's Brian Allen has a sneak peek of what you can expect to see when the big game goes to commercial break, and the real entertainment begins.
    Video

    Video In Philippines, Mixed Feelings About Greater US Military Presence

    In the Philippines, some who will be directly affected by a recent Supreme Court decision clearing the way for more United States troop visits are having mixed reactions.  The increased rotations come at a time when the Philippines is trying to build up its military in the face of growing maritime assertiveness from China.  From Bahile, Palawan on the coast of the South China Sea, Simone Orendain has this story.
    Video

    Video Microcephaly's Connection to Zika: Guilty Until Proven Innocent

    The Zika virus rarely causes problems for the people who get it, but it seems to be having a devastating impact on babies whose mothers are infected with Zika. VOA's Carol Pearson has more.
    Video

    Video Solar Innovation Provides Cheap, Clean Energy to Kenya Residents

    In Kenya, a company called M-Kopa Solar is providing clean energy to more than 300,000 homes across East Africa by allowing customers to "pay-as-you-go" via their cell phones. As Lenny Ruvaga reports from Kangemi, customers pay a small deposit for a solar unit and then pay less than a dollar a day to get clean energy to light up their homes or businesses.
    Video

    Video Stunning Artworks Attract Record Crowds, Thanks to Social Media

    A new exhibit at the oldest art museum in America is shattering attendance records. Thousands of visitors are lining up to see nine giant works of art that have gotten a much-deserved shot of viral marketing. The 150-year-old Smithsonian American Art Museum has never had a response quite like this. VOA's Julie Taboh reports.
    Video

    Video Apprenticeships Put Americans on Path Back to Work

    Trying to get more people into the U.S. workforce, the Obama administration last year announced $175 million in grants towards apprenticeship programs. VOA White House correspondent Aru Pande went inside one training center outside of Washington that has gained national recognition for helping put people on the path to employment.
    Video

    Video New Material May Reduce Concussion Effects

    As the 2016 National Football League season reaches its summit at the Super Bowl this coming Sunday (2/7), scientists are trying to learn how to more effectively protect football players from dangerous and damaging concussions. Researchers at Cardiff and Cambridge Universities say their origami-based material may solve the problem. VOA’s George Putic reports.
    Video

    Video Saudi Arabian Women's Sports Chip Away at Stereotypes

    Saudi Arabian female athletes say that sports are on the front line of busting traditions that quash women’s voices, both locally and internationally. In their hometown of Jeddah, a group of basketball players say that by connecting sports to health issues, they are encouraging women and girls to get out of their homes and participate in public life. VOA’s Heather Murdock reports.
    Video

    Video A Year Later, Fortunes Mixed for Syrians Forging New Lives in Berlin

    In April of last year, VOA followed the progress of six young Syrian refugees -- four brothers and their two friends -- as they made their way from Libya to Italy by boat, and eventually to Germany. Reporter Henry Ridgwell caught up with the refugees again in Berlin, as they struggle to forge new lives amid the turmoil of Europe's refugee crisis.
    Video

    Video Zika Virus May be Hard to Stop

    With the Zika virus spreading rapidly, the World Health Organization Monday declared Zika a global health emergency. As Alberto Pimienta reports, for many governments and experts, the worst is yet to come.