Parsa Venkateshwar Rao Jr | Why it’s tough to invest in India: Fix the bottlenecks
2 years, 11 months ago

Parsa Venkateshwar Rao Jr | Why it’s tough to invest in India: Fix the bottlenecks

Deccan Chronicle  

Global business leaders attending the virtual meeting of the Davos-based World Economic Forum on January 17 must have heard Prime Minister Narendra Modi and Chinese President Xi Jinping with curiosity, if not with rapt attention. Mr Modi is keen about attracting foreign investments to India, something that he has been assiduously canvassing in Davos ever since he became Prime Minister, and he has done the job diligently. Speaking of the tussle between economic growth and ecological preservation, he said: “We should never grow the economy at the cost of resource depletion and environmental degradation, which is like draining a pond to get fish; nor should we sacrifice growth to protect the environment, which is like climbing a tree to catch fish.” There is little doubt that Mr Xi is imitating Mao and Deng Xiaoping and hopes to get into the canon with his homilies! Though Mr Modi has declared India as the “pharmacy of the world”, it is evident that even while India dominates the generic drugs and vaccine market in the developing economies, it is not yet the leader in terms of research and development.

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