NEW DELHI - Foreign companies in India have welcomed Prime Minister Narendra Modi’s election victory for the political stability it brings, but now they need to see him soften a protectionist stance adopted in the past year.
India is also the biggest market by users for firms such as Facebook Inc, and its subsidiary, WhatsApp. “Global firms remain deeply concerned about the lack of policy stability or predictability, this has sent a worrying message to global investors.” Other investors hope the government will avoid sudden policy changes on investment and regulation that catch them off guard and prove very costly, urging instead industry-wide consultation that permits time to prepare.
Last year, however, firms such as Mastercard and Visa were asked to store more of their data in India, to allow “unfettered supervisory access”, a change that prompted WhatsApp to delay plans for a payments service.But abrupt changes to rules on foreign investment in e-commerce stoked alarm at firms such as Amazon, which saw India operations disrupted briefly in February, and Walmart, just months after it invested $16 billion in India’s Flipkart.
Indian Prime Minister Narendra Modi gestures as he is presented with a garland by Bharatiya Janata Party leaders after the election results in New Delhi, India, May 23, 2019. REUTERS/Adnan Abidi
adityakalra aditishahsays the man with a fake Degree becomes the Prime Minister of the biggest Democratic country in the world
adityakalra aditishahsays Love him hate him. He is here to stay. Better re-purpose and rework plans.
World adityakalra aditishahsays
adityakalra aditishahsays Good luck on that. India still remembers the Raj.
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