Millennium Post

IIF hails reforms spree in India

The new set of economic reforms announced by India are necessary to create a more competitive economy, Institute of International Finance [IIF] has said, welcoming the United Progressive Alliance Government's decision on opening up more sectors to foreign direct investment.

India on Thursday unleashed a second wave of reforms deciding to open the pension sector to foreign investment and raising the FDI cap in insurance to 49 per cent, undeterred by opposition to its decisions on FDI in retail and threats to block these legislations.

It cleared a raft of big-ticket legislative proposals including the new Companies Bill, amendments to Competition Act, etc.
PTI

PTI

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