India's Poor Business Climate Scaring Away U.S. Investors

He said that these areas can be addressed only if there is political will and America has enormous stake in New Delhi’s emergence as a global power. He continued, “When we think of India as an emerging power, one of the key components on which India would build its influence is its economic strength and attractiveness.”

Cautioning that a weakened India will be bad for the world, new Chairman of industry body USIBC Ajay Banga has said policy flip-flops and unpredictable business climate are hampering the country's progress and scaring away foreign investors. He said, “Of late, we see the disturbing flip-flops on policy and increasing signs of an absence of a predictable investment and business climate. These factors and some others are hampering India's progress and growth and scaring away foreign investment.”

Just few days back, Banga took over as chairman of US India Business Council (USIBC). "Together, if we don't solve these problems, they will fester and multiply over time, not just to the detriment of India but with ramifications for our increasingly interconnected, global economies," Banga said. He added, “Just think of the consequences --- geopolitical, economic and otherwise --- if we fall short. Make no mistake - the world needs a strong, stable, and prosperous India.”