Interest rates hurting stock market culture in India: Experts
Kothari said that if India manages to take its FDI inflows to the level of USD 250 billion a year, it would roughly translate into an improvement in the GDP growth rate by about 2-3 per cent.
"Therefore if we want 9-10 per cent growth rate, this USD 250 billion FDI would get us there," he said.
Asked about the steps that are required to achieve these goals, Kothari said: "It is not a continuity and consistency in the framework that would be required for these numbers, but a lot of improvement from the current policies would be needed to achieve these targets.
"We would need to experiment a lot more. The law enforcement is a major issue. Businesses need an effective law enforcement mechanism, be it for their labour dispute, patent dispute or any other issues, they want speedy resolutions.
"Especially, when it comes to international operations, no one wants to take risk and when they go for arbitration, they either go to Singapore or London. This 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
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