BUSINESS

Transparency attracts foreign investors: CVC

Central Vigilance Commissioner (CVC) K.V. Chawdary said that transparency in government policy, most specifically after the new government took over, had created conducive environment for foreign investors to invest in India.

Concerns

He said foreign investors were earlier worried about lack of transparency in conducting business in India, especially in allocation of natural resources. But now their concerns had been addressed, he said.

“We have seen what does lack of transparency mean. Now transparent mechanism has been put in place. We have now e-tendering and e-auction which have given confidence to investors,” Mr. Chowdary said on Tuesday while addressing a function organised by Indo-American Chamber of Commerce.

“Earlier not many companies from abroad were inclined to do business here. Now, the situation has been remedied,” the CVC said.

He said in the 70s most IIT graduates used to migrate to the U.S. for better job opportunities, but now a good number of them were coming back to either resettle in India or to invest in India as things had changed.

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