Search the Internet          Tips  Sites: Finance, Investment

Bureaucracy hurting US investments in India: Blackwill

US investments in India are being adversely affected by high tax rates and red-tape and it is up to the authorities to remove these hurdles, US Ambassador in India, Robert D Blackwill, said on Wednesday.

"There is unimaginable investment potential in India. But at the same time, there is much red-tape and high rates of tariff," Blackwill told members of the Indian Chamber of Commerce in Kolkata while taking questions following his speech on 'The Quality and Durability of the US-India Relationship.'

Pointing out that the problem in India was at the "federal (central) level," Blackwill said, "It is up to you to remove the constraints. After all, the investor will go to a place which is congenial for investments."

To another question, he stressed the need for efficient marketing of Indian goods and services in the face of world-wide competition.

"You have very good products, services and human capital, but these are not properly highlighted. You do not tell a story well and so you are somewhat behind in marketing."

Citing the example of China, Blackwill said Beijing had worked hard to be investment-friendly with all proper strategies. "But it's too hard to do business here."

ALSO READ:
More Money Headlines