The Indian Government seems to be making a few changes so that foreign investments can come in easily for its economy. These changes are now become a bath for giants like IKEA and Apple so that the country can grow and capitalize thanks to them. The market of India is an emerging one and is considered to be one of the fastest ones today.
The new rules which are long awaited is something that has been passed though and the government’s plan to reinforce it is something that can actually help in the development of policies which is said to be business friendly. With this there is also a chance, that now lot more jobs can be maintained and created with its momentum. International as well as Domestic companies have made complaints for a long time now about the various challenges they face in terms of doing business in the country.
The sprawling bureaucracy and deficiencies in the infrastructure of the country are some of the factors that hamper the economy of the country. With the help of the new policies, it seems to be that the change may just be something that is a greater shift. This will be away from the policies which are said to be protectionist and socialist in nature to the modern history of India post independence.
When Narendra Modi the Indian Prime Minister came into power, one of the major expectations was that the policies would be more market friendly. While he was Gujarat State’s Chief Minister he had championed it for quite a while. The timing of when the announcement made acted like a reassurance for the international markets. The new rules had been rolled out after the surprising resignation of Raghuram G Rajan, who was the Central Bank’s respected Chairman. His departure has lead to the uncertainty about the reform plans of the government.