He said that economic diplomacy is no less a demanding proposition than the classical diplomacy. Economic diplomacy is more than the simple sum of two parts and calls for harmonising the disparate national interests in economic and diplomatic domains hitherto existing in isolation, he said.
Ficci secretary general in his presentation on foreign direct investment (FDI) said according to a survey conducted by Ficci - on the experience of FDI in India, 87 per cent of the respondents felt that manpower skills are good and 74 per cent found the profitability to be good to average. The survey pointed out that almost 56 per cent of the respondents are planning to expand their operations in India. It has been found that there are still ground level obstacles like lack of infrastructure, complex taxation regime, bureaucracy at lower levels, weak image of India outside the country, multiplicity of agencies and complex labour laws.