Key Points
New Delhi: Government actions favouring certain companies over others have created a feeling among potential investors in India that the playing field is no longer level, former chief economic advisor (CEA) Arvind Subramanian told ThePrint in an interview...
Subramanian pointed out that private investment in India was resolutely flat, and foreign direct investment (FDI) was also slumping, both in absolute terms and as a share of global FDI...
So you wonder why it isnt showing itself in the data, especially if theres a China-plus one opportunity, especially if the banking system is ready to extend credit, he said...
Subramanian said he was sceptical about the governments turn inward, with higher import duties and import licensing initiatives like the one for laptops which was eventually eased following industry pushback and its push for import substitution...
He said this import substitution opens up the question of whether the countrys exporters will be able to become globally competitive, adding that to sustain a growth of 7-8 percent, the country has to see export growth of 10 percent...
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