India Must Continue Reforms to Tackle Barriers to Foreign Trade and Investment: Bill Daley
Submitted by Manish Sood on Fri, 06/24/2011 - 15:16
US officials have once again pushed India to continue reforms to tackle the barriers to foreign trade and investment. Obama's Chief of Staff, Bill Daley at a meeting of the US-India Business Council (USIBC) that held on Thursday said that for a country like India, who aspires to continue to grow as rapidly as it has already grown instantly, it is crucial to continue the reforms that can further not hinder the investment for trade in areas that are of key importance to India to attain growth, such as agriculture development and financial services.
No doubt, for almost two years, India has had liberalizing reforms and has since then kept its markets open for investment from foreign, to attain the explicit growth but Daley during the meeting said that it has still got much to explore to in terms of growth that it aspires and it can only come if it will further confirm the reforms to make its economy liberalized and ever ready for the investment from foreign.
Even US Under Secretary for international trade, Francisco Sanchez has also indirectly said during the meeting that numerous barriers that are faced by US, while investing in India, essentially in sectors such as financial services and solar-power technology, keeps our trade and investment amidst and not capable of reaching the higher levels for the reason that it has got semi-open economy.
