Hitting back at the critics of the Government, Commerce and Industry Minister Anand Sharma, on Wednesday, said the very fact that big multi-national companies were making investment commitments indicated that neither the UPA-II government nor India had lost direction or initiative.
Mr. Sharma’s strong stand comes in the wake of $5 billion investment announced by Coca Cola and 1.5 billion euro by IKEA in the last one week.
“It is good news, and things are moving. It’s not that we have lost our direction. We have not.
“The gains of policy initiatives are flowing steadily and slowly, and we should be patient to see the results,” Mr. Sharma told journalists after his meeting with Coca Cola Chairman and CEO Muhtar Kent here.
Mr. Kent had announced, on Tuesday, that Coca Cola would invest $5 billion between now and 2020 on various activities, including setting up of new bottling plants.
Last week, home furnishing major IKEA approached the government with a proposal to invest 1.5 billion euro to set up 25 stores in the country.
Mr. Sharma said the government was working in the direction of providing investor-friendly climate.
“As far as the government is concerned, we have made it very clear that we believe in an environment, which is welcoming and supportive for investors. We have taken a number of steps and have come out with policy initiatives,” he added.
Citing the example of allowing 100 per cent FDI in single-brand retail, he said, the issue had received good response from investors. “There are three investment applications, which have already come and more are in the pipeline,” he added.
The government has come under attack from various quarters, including rating agencies and a section of the corporate sector, for failing to carry out policy reforms, decline in foreign investments and overall economic slowdown. The country's foreign direct investment (FDI) declined by 41 per cent to $1.85 billion in April as compared to the same period in the previous fiscal.
Keywords: UPA-II government, Indian economy, investments in India, Anand Sharma
this is a short term gain which might have long term consequences
culminating in the form of deteriorating health of the country's
youth.We need to strike a balance between our short term needs and the
long term ones in our economic and commercial policy.
It seems Anand Sharma has run out Ideas to revive the Indian Economy via Entrepreneurship and Job Creation for the Youth in India !
Thanks! to Mr.Anand Sharma - India's credit rating outlook has gone to negative, due to corruption, inadequate reforms, high inflation and slow growth. Sharma further said the government is working to provide investor-friendly climate in the country which except will not be 1). Free from Corruption ( Otherwise Mr.Anand Sharma cannot get his 15% Commission in the UBS Bank Account ) , (2).Molestation and Rape : The foren male and female staff cannot be guranteed 100% protection from molestaton and rape as , Anand Sharma knows very well that every 5 minutes a rape of a minor child is committed in India , so if Mr Anand Sharma cannot gurantee any protection to his own Indian Citizent then you " B*STARDS" What do you expect ! (3). Income Tax : You will be subject to Indian Tax Laws that Mr Anand Sharma will explain to you later once you have transferred his 15% Commission . (4). In the 2nd Year all workers will go on strike like AIR INDIA .
Coca-Cola and other beverage Cos,guzzle
water,a precious resource polluting the Nation at the same time,with
utter contempt for India.The CONTROL of the Rupee,is further handed
over from the FIIs to these Cos,too.
Drinks like cocacola and pepsi,their exnansion and permits speaks lot about what is the govt policy towards improving health standard of people of India.It not like tooth paste or cars as essentials.To make money at the cost of health of people is not wise.In America tgey are restricting the use of sweetened drinks by law while India we permit them more and more.Surprising.
And what about environmental costs of this coca cola thing..??
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