Foreign Investors want progressive, consistent regulations in India: Naina Lal Kidwai
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"What we need today is a consistency in the regulatory framework. These concerns are a sort of repeated refrain among the overseas investors here at Davos and we need to work on these issues," she added.
Kidwai said India is clearly important for foreign investors and fortunately they can not write it off.
"The investors and foreign companies present here, all of them want to engage with India. All acknowledge that we (India) are a sort of tough country to do business with, but they can't ignore it either.
"It is up to us to demonstrate that we can get it right and tell them that we are not as difficult as they believe, so that the decisions that they take about investments include
India as a major destination," Kidwai.
"We have always been an attractive destination in the services sector, but we should also work towards making ourselves an attractive destination for supply chain investments in the manufacturing sector. This is the area where big companies can come and invest," Kidwai said.
She added that India has been successful in attracting investments in sectors like auto and it should work harder to get even more investments into the areas.
"This will require infrastructure, faith in the process, right labour laws and even incentives for setting up manufacturing in India, Kidwai said.
She further said the Indian leaders and policymakers are recognising the need to take steps in this direction, and what is needed now is a faster process and a proper execution.
Asked about the issues like possible imposition of highertaxes for rich people, Kidwai said these are also areas of concerns, but international investors present at Davos are not as such bothered by these issues, as such matters do not affect those people and entities looking into India for possible inbound investments.