Progressive and consistent rules needed: Kidwai

Written by Press Trust of India | Davos | Updated: Jan 31 2013, 09:58am hrs
India needs to have a regulatory regime that is consistent and progressive in nature to find a place in the investment roadmap of foreign companies, global banking giant HSBCs India chief Naina Lal Kidwai has said.

Kidwai, who was here for the World Economic Forums annual meeting, said a renewed wave of reforms indicates better times ahead, but there remains a scepticism on execution and it is very important for the country to demonstrate its deliverability.

Asked about the perception about India among foreign investors, Kidwai said, People believe it is an important time for India to be back on track.

Reforms have started again and in the last few months India got quite a few new policies and new bills through. These are indications that even better times are to come with regard to the India story.

However, there is some scepticism about whether India can really deliver on some of these early promises and therefore it is going to be very important for us to really demonstrate that we can, she added.