India’s Poor Business Policy Is Vietnam’s Gain, US Says
- India must relax export controls, US Envoy Eric Garcetti
- Intellectual Property not protected in India, Garcetti says
Eric Garcetti
Photographer: R.Satish Babu/AFP/Getty Images
This article is for subscribers only.
India is losing overseas investment to Southeast Asia because of its poor business environment and opaque laws, US Ambassador to India Eric Garcetti said at an industry forum, urging Prime Minister Narendra Modi’s government to undertake further economic reforms.
“Foreign direct investment isn’t flowing into India at the pace it should be, instead it is going to Southeast Asia, to countries like Vietnam,” Garcetti said, as he addressed the Indo-American Chamber of Commerce Tuesday in New Delhi. “Export control and export policy have to change,” to further boost bilateral economic ties, he said.