July 16, 2012 @ 00:00 am
The United States of America has attempted, on many occasions earlier, to give other countries a lesson in Democracy and in the process, sell their idea of a free market economy. Similarly; Obama thought it was essential to do, what unfortunately seems li
The investment climate in India is deteriorating, is what Obama claimed on Sunday. However, this time the Government has teamed up with the Opposition and other political parties to lambaste the misinformed statements made by the President. It is quite possible that his campaign staff felt that it would be a good time to garner the support of Indians, in pressurizing the Government of India to open its markets; as our economy has been stagnant, of late.
Perhaps, the following statement tends towards the above view.
The US President had said, "In too many sectors, such as retail, India limits or prohibits the foreign investment that is necessary to create jobs in both our countries, and which is necessary for India to continue to grow... there appears to be a growing consensus in India that the time may be right for another wave of economic reforms to make India more competitive in the global economy."
Nevertheless, we at MTV are proud that instances like this, even earlier, have been catalytic enough, in bringing the members of the Indian political class together, irrespective of their political ideologies. On the other hand, Barack Obama must respect the fundamentals of our economy, as only 19% of the investment in India is from US and other western nations.
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