And China is fast catching up in English-language competency. The administrative culture in New Delhi and all the state capitals needs to be transformed from hostile and suspicious to helpful and welcoming of foreign investment. Elite bureaucrats tend to be as arrogant in dealing with the public and corrupt in dealings with business as they are sycophantic toward their political masters. The public sector is still large, subject to bureaucratic and political interference, and infects many parts of the economy. The culture of subsidies remains entrenched, draining money that could be better invested in productive enterprises.
Investors prefer to put their money in countries with binding commitments to liberalization.
Other concerns relate to inadequate legal protection of intellectual property and weak enforcement of existing laws, political confusion, protracted litigation, exchange rate risks, land acquisition problems and layers of technical approvals. Fundamentalist nationalism is indeed fundamentally anti-national. These are his personal views.