“India works on a very small negative list and the FDI which comes into India - the majority of the sectors - are in the automatic route,” he said. Sharma argued that for all of the criticism and whining, “When you look at the pace at which some of these sectors - financial services, insurance and banking - have been opened, then India has done far better than many of the countries, including in Europe and here, in these sectors.” He pointed out that “you have more US bank branches in India. You have more British bank branches in India, or for what matter, of the other countries, and there are partnerships of the major insurance companies with the premier insurance companies in India.
Friday, March 19, 2010
Property News on 'Real Estate India
india will unveil a single policy for foreign direct investment, including in sectors such as financial services, insurance and banking by March 31, Commerce and Industry Minister Anand Sharma has disclosed. After 3 days of discussions with senior administration officials, Sharma acknowledged that “it’s true that we were slow off the block when we started the process of economic reforms and liberalization,” but asserted in the past few years, “it would be appreciated that India has moved much faster.”
“India works on a very small negative list and the FDI which comes into India - the majority of the sectors - are in the automatic route,” he said. Sharma argued that for all of the criticism and whining, “When you look at the pace at which some of these sectors - financial services, insurance and banking - have been opened, then India has done far better than many of the countries, including in Europe and here, in these sectors.” He pointed out that “you have more US bank branches in India. You have more British bank branches in India, or for what matter, of the other countries, and there are partnerships of the major insurance companies with the premier insurance companies in India.
“India works on a very small negative list and the FDI which comes into India - the majority of the sectors - are in the automatic route,” he said. Sharma argued that for all of the criticism and whining, “When you look at the pace at which some of these sectors - financial services, insurance and banking - have been opened, then India has done far better than many of the countries, including in Europe and here, in these sectors.” He pointed out that “you have more US bank branches in India. You have more British bank branches in India, or for what matter, of the other countries, and there are partnerships of the major insurance companies with the premier insurance companies in India.
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