Is India ready for foreign investment, asks Washington Post article

Bengaluru, Feb 19: Prime Minister Narendra Modi has told investors to make India their destination but chief executives and entrepreuners, despite the optimism, have cautiously held that more is to be done before the country succeeds in increasing the "manufacturing share of its service-oriented economy to the programme's goal of 25 per cent, including creating a skilled workforce as well as taxation and labor reform," a story published in The Washington Post said on Friday.

It said PM Modi stressed India's 12-place improvement in the World Bank's index of "Ease of Doing Business", but it still ranks 130 out of 189 countries, below Russia and Iran.

Speaking on the week-long 'Make in India' fair in Mumbai which closed on Thursday, the report said: "At a flashy week-long event in India's commercial capital, the government showcased the country's business potential to more than 10,000 foreign and domestic companies and a crowd of more than 65,000, garnering more than $227 billion in pledges by week's end, organizers of the "Make in India" event said."

It added: "Modi - the event's visionary and his country's cheerleader in chief - called it the "biggest multi-sector event" ever held in India, and he said that "Make In India" had become the "biggest brand India has ever created."

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