NEW DELHI: -Businessmen from the United States have given up India as a country where investments can be made according to MS Carla Hills U S trade representative.
India has to take urgent steps to liberalize its economy if she is seriously interested in attracting foreign investment and high technology she said
MS Hills was replying to a series of queries put to her by & panel consisting of India’s leading industrialists
Advocating the cause of open market economy and free trade she said it would be in India’s interest to remove trade barriers and restrictions on foreign investment as it would promote competition.
Competition in its turn would enhance cost-effectiveness which would ultimately help in making quality products available at cheaper price she explained.
Hills said India’s protectionist measures to safeguard its domestic industry were being pursued without a cause as they did not help the people to get quality products at cost-effective price.
Article extracted from this publication >> January 25, 1991
