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India ready to open financial services market
By agencies
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Wednesday, 14 December 2005, 20:30 IST
NEW DELHI: India is willing to open its financial services market to overseas competition in return for greater access to developed markets for its service providers and people, Commerce Minister Kamal Nath said.
``Let them give us more access in transnational movement of services and transnational movement of people,'' Nath said. ``India is willing to move forward in a balanced way.''
Europe and the U.S. are seeking greater access to the financial markets in the country where rising incomes and thirty-year low interest rate is fueling consumer demand.
In turn India wants more access to the agricultural markets of developed countries and a more liberal visa regime for professionals such as software writers, lawyers, accountants, health-care workers and teachers.