Interest rates hurting stock market culture in India: Experts

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SummaryA high interest rate environment makes people relatively relaxed, complacent: Citi

is despite India being a nation full of lawyers and the country also doing lots of back-office legal work for the rest of the world," he said.

"It has to be a single minded pursuit to get the output, it cannot be done just by talking about streamlining the things," he said, while adding that India today competes with over a hundred countries and it has to make it attractive for the rest of the world to come here.

"Its not only about companies and investments, We would also need to make our IITs and IIMs much more attractive for students from outside the country to come here to study. We need to make the country attractive enough for both the financial capital and human capital to come here," he added.

Kothari also said that India needs to encourage the domestic investors for sectors where they are interested, and allow the foreign investors in the areas of their interest.

"It should not be the case that we dictate the terms with regard to which investor would be allowed in which sectors.

"We can channel our domestic investors into areas like infrastructure and let the foreigners come into other areas where they want to come. We need both the domestic and foreign investors," he said.

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