This is in reference to the editorial “FDI stumbles, too” (July 4). The Indian economy is turning unattractive for the foreign investors. Persisting stresses in many segments of the economy are hampering investment as well as employment.
Economic policies and reforms are failing in manifesting the intended results. Rising bad assets and the consequential erosion in the net worth of public sector banks is adversely affecting credit expansion and pulling down the growth of the economy as a whole.
ALSO READ: FDI stumbles, too
Sector-specific reforms are of paramount value as a measure to resolve issues hampering growth and creation of job opportunity. A stress-free banking sector in general, and more particularly in the case of the state-owned ones, is crucial. Stress removal is required to attract inflows of capital and to make the economy a preferred destination for investments.
V S K Pillai Kottayam
Letters can be mailed, faxed or e-mailed to:
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110 002
Fax: (011) 23720201 E-mail: firstname.lastname@example.org
All letters must have a postal address and telephone number