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Tuesday, January 11, 2011

Remove infra, policy bottlenecks to attract FDI: Assocham

Removal of infrastructure bottlenecks and policy reforms in sectors like retail and insurance will help India attract more foreign direct investment (FDI), Assocham said today.It said that sectors such as agriculture and retail, which have enormous potential for attracting FDI, need to be further liberalised. "Restructuring the land acquisition laws also facilitates more opportunities for investors.The country still has to deal with a sometimes sluggish bureaucracy," it added.

During April-November, 2010-11, FDI into the country declined by 27.4 per cent to $14.02 billion vis-a-vis the corresponding period of the previous year. However, it said if the prevailing global situation improves, India may emerge as the third-most favoured destination for FDI after China and the US. The government is mulling over liberalisation of the FDI policy in sectors like multibrand
retail and defence.

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