New Delhi: The Narendra Modi government may be talking of economic reforms, but the confidence of global investors in the Indian economy still seems jittery. Hondas global chairman Fumihiko Ike has said that doing business in India remains difficult and processes in the country are complicated and burdensome.
Ike, who also heads the crucial Japanese Automobile Manufacturers Association (JAMA), said the new government should take steps to improve the investment in the country as poor infrastructure and uncertain tax regime makes it tough to do business in India.
Ike’s statement comes a day after British telecom giant Vodafone echoed similar sentiments and European oil major BP also expressed “frustration” over the delay in gas price hike, which was delaying the proposed investment by the company.
Vodafone, which battles a Rs 20,000 crore claim by the government over a capital gains tax issue, said foreign companies find it “difficult” to do business in India because of slower government clearances.
Bureau Report
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