Doing business in India is 'messy': US investors to Mayaram
Despite the recent series of economic reform being pushed by the Indian government, US investors and officials have told a visiting top Indian official that doing business in India is "messy".
"I do understand that many of you may have difficult time in doing business in India. Many of you yesterday told me and I quote, "doing business in India is messy" unquote," the Economic Affairs Secretary Arvind Mayaram said at a reception
hosted for him by the US India Business Council (USIBC) yesterday.
At a two-hour long meeting held at the Treasury Department, convened by the Under Secretary of Treasury, Lael Brainard, a select group of American investors, corporate leaders and official gave a free and frank assessment of the current investment climate in India, where they said are eager to pump in their money.
At the end of the meeting, the Indian official pointed out that "we are partners in distress".
Mayaram is here leading an Indian delegation for US-India Economic & Financial Partnership meetings, between the US Treasury Department and Ministry of Finance.
Officials from the Reserve Bank of India (RBI), Security and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority IRDA), and Forward Markets Commission (FMC) and well as their US counterpart organisations have attended the series of meetings held in Washington on Thursday and Friday.
During the meetings and also on the Friday reception, Mayaram assured the investors and US corporate sector that the Indian government is determined to take the necessary hard decision to improve
Be the first to comment.
