Direct foreign investment wanted
Before enticing multinationals and encouraging internal production, Modi should work to centralise local bureaucracies.
Before enticing multinationals and encouraging internal production, Modi should work to centralise local bureaucracies.
India is one of the world’s fastest growing economies, and it is now seeking to boost growth further by relaxing its rules on foreign investment. With a World Bank growth forecast of 7.6% for 2016 (more than that of China), India’s business-focused government is determined to meet and possibly exceed expectations. To that end, in June 2016 Prime Minister Narendra Modi promised to make India “the most open economy in the world for FDI (foreign direct investment)”.
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