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India assures investors of friendly, transparent policy regime

Last Updated: Wednesday, January 23, 2013 - 20:50

Davos: India on Wednesday assured global investors that the country's growth story is intact and they can look forward to a stable and transparent policy regime.

"I can see that foreign companies are interested in participating in India's growth story. Foreign partners can be assured of investment with a policy regime that is investor friendly, growth-oriented, open and transparent," Sharma told PTI here.

He said investments in India are secured and the country offers huge potential.

"During my meetings here with top CEOs of various companies, they have appreciated the recent policy decisions regarding multi-brand retail, civil aviation and banking amendments," he added.

The minister is here to participate in the annual WEF meeting.

Indian government has liberalised foreign direct investment policy in sectors like retail allowing 51 percent FDI in multi-brand retail, hiking the cap to 100 percent in single-brand retail and permitting foreign airlines to buy 49 percent stake in Indian carriers.

India has recorded a growth of 6.5 percent in 2011-12 and is expecting an economic expansion of 5.7 percent in the current financial year. The country has been registering decent growth despite the global economic woes which have pulled down growth in several developed nations.

Top CEOs who met Sharma includes Novartis Global head of public and government affairs Petra Laux, BAE Systems Chairman Richard Olver and Royal Philips Electronics President & CEO Frans A Van Houten.


First Published: Wednesday, January 23, 2013 - 20:50
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