India needs to liberalise, change policies to attract more FDI: World Bank
New Delhi:World Bank consultant Premila Nazareth on Thursday emphasised that India needs to liberalise and change its policies to attract more foreign direct investments.
During the release of the annual study of worldwide investment trends by the United
Nations Conference on Trade And Development (UNCTAD) in the national capital,
Nazareth also blamed the bureaucracy in India as the main reason for less inflow
of foreign investments. "FDI (Foreign Direct Investment) policies do not need
much changes to increase FDI inflows. Policies are fine. The rest of the policies,
bureaucracies and regulations are creating problems for people and these are the
reasons behind less inflow of FDI. The policies are liberal, but we need to change
and liberalise the sectoral policies of various sectors for private investments,"
Nazareth said. Nazareth further said that India and China are being seen as strong
contenders for the Global Direct Investment (GDI) due to their emerging economy
status. "India's position as a recipient country in the global FDI picture is
only going to strengthen over the next few years because global investors are
now looking more and more the emerging world as a whole. China and India are seen
as very strong players, markets with guaranteed growth in a way and this is only
going to grow," Nazareth added.
