For the first time India has a government that understands business and foreign investment, the new head of an influential Indo-US business advocacy group has said while cautioning that the country needs to ensure "predictability" on law, policy and bureaucracy.
The Reserve Bank of India (RBI) is in talks with market participants to simplify the process of investing into the country`s debt market, deputy governor H.R. Khan said on Thursday, responding to questions about international settlement of securities through Euroclear.
Foreign investors continue to remain bullish on India and the government's measures to fast track project clearances have given a major boost to the country's growth story, Commerce and Industry Minister Anand Sharma said Thursday.
Asserting that India can absorb USD 50 billion foreign investment annually, Finance Minister P Chidambaram has said the downturn in Indian economy was temporary and growth will return to 8 percent in two years.
Calling for harmonisation of tax laws across national boundaries, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Friday said India should also take steps to bring rules in line with best global practices to make climate more conducive for foreign investment.