RBI Gov warning on FDI |
The Reserve Bank of India governor Raghuram Rajan has warned against compromising the country`s interest for the sake of attracting foreign investment and said the priority should be framing transparent policies as well as resolving contractual tax disputes quickly. He says the most stable form of financing, foreign direct investment, has the additional benefit of bringing in technology and methods. But India should not be railroaded into compromising its interests to attract FDI. He, however, did not elaborate on what he thought could compromise India`s interest. Making a case for transparency in policies and resolution of "contractual" disputes, especially over taxation, Rajan said efforts to ensure this have already begun.
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