The Indian government has been swift in condemning the US-China interference in south Asian affairs. But mere condemnation will not do. If we are to compete for influence with the Chinese, we need to build links with US businesses and with US investment. For that to happen we need a coherent, forward-looking policy on FDI. That should not be interpreted to mean that we need a totally open-door policy. Chinese FDI approvals have been on a case-to-case basis, and yet that hasn't stopped a rush of foreign money from flowing in. For us, the key to encourage FDI inflows should be clarity of policy, coupled with consistency. If some sectors are to be reserved for local business, that doesn't really matter, so long as we go all out to make life comfortable for foreign investment in the areas in which they are allowed. It will have to be ensured thatthe foreign investor does not have to rush from pillar to post to get clearances, that he gets all the permits fast, and that he is not harassed by local politicians once the factory is set up. India is the last great market in the process of opening up, and there is every reason for multinationals to want to get their foot in the door as fast as possible. We don't really need to cajole them to come -- all that we need to do is to ensure that they feel welcome.