Washington: According to AFTI (Alliance for Fair Trade with India), an American trade body focussed on India, Only substantive economic reforms is the key for the Modi government to promote its “Make in India” initiative. Only substantive economic reforms can bring heavy foreign investments in India.
“Only substantive reforms will advance the Modi government’s efforts to promote ‘Make in India’, attract high value-added foreign direct investment, and move up the economic value chain,” Alliance for Fair Trade with India (AFTI) said in a statement.
“In a highly competitive global economy, the lack of substantive reforms and movement toward world-class regulatory and IP standards only serves to hinder India’s aspirations to rise as a globally-competitive country,” said AFTI, which for the past few years has been pushing for economic reforms in India.
Disappointed expressed in India-US Trade Policy Forum Meeting
AFTI also expressed disappointment over last week’s India-US Trade Policy Forum meeting.
“Dialogues such as the Trade Policy Forum and last month’s Strategic and Commercial Dialogue can be critical tools in the effort to find resolution to longstanding concerns. To be meaningful, however, these dialogues must be more than simply a forum to talk and exchange views. They must result in concrete action to improve the business and investment climate in India,” it said.