India Fights Protectionism to Speed up Open Door Policy

2012-02-24

As one of the BRICS countries, India will slow down its pace in economic development. India’s budget deficit grows and inflation continues to soar. Manmohan Singh, Prime Minister of India has set up plans to cancel the protectionist economic policies and widely bring in foreign owned enterprises. During his recent visit to Chicago, Pranab Mukherjee, Finance Minister called on foreign investors to quickly join the Indian market and listed a series of India’s pro-business policies; for instance, foreigners can directly invest in Indian stock market, foreign retailers can establish wholly-owned stores in India, etc.