New Delhi, Nov 26: Finance Minister Yashwant Sinha has asked the foreign investors not be scared of Indian bureaucracy and promised that he would attend to their problems "as a doctor attends an emergency."Delivering the keynote address at the India Economic Summit 2000 here on Sunday, Mr Sinha emphasised, "We have made sweeping changes in procedures and in the new regime an investor need not visit government offices... we don't want to see your faces... you should concentrate on our business."
The finance minister made these comments while elaborating on advantages on investing in India. He added that a foreign investor investing in India enjoyed the security of investment, guarantee on repatriation of profits and profitability. "These things need not bother an investor," he said.
Investors, he admitted, were concerned about Indian bureaucracy. The fears in this regard, according to the minister, were misplaced. "Bureaucracy," stressed Mr Sinha, "is a tool in the hands of political formation" and added "it will do what the political masters would want it to do."
He further said that India needed long-term investment partners. This partnership has to be based on mutual trust and advantage, he added.
The minister said that there had been delays, "but that is the part of a democratic process." He said that it took six years for the nation to free the insurance sector.
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