“And, there's no question that India's economic success is vital to achieving the strategic aims that both our leaders have laid out,” she said pledging “to look forward, and not dwell on the past”.
Suggesting South Asia's “economic engine” India “faces real vulnerabilities”, Biswal noted: “India's leaders have targeted to spend $1 trillion dollars over five years in infrastructure investment to close the infrastructure gap that prevents real growth in the manufacturing sector.”
“Yet it continues to have policies that inhibit foreign investment,” she said. “India still ranks poorly amongst all countries as a hospitable place to invest and start a new business, ranked 134 out of 189 countries.”
“So, without sugar-coating its challenges - a tough neighbourhood, tightening economic growth and the mounting impacts of pollution on public health - India, the world's largest democracy, must decide its own path to the future,” Biswal said.
“Will it make the reforms necessary to attract investment? Will it capitalise on the opportunities that lie in front of it?” she asked.
“Those are the questions that India's voters are asking as they cast their ballots and those are the questions that we want to see answered,” Biswal added.
Updated on: April 17, 2014 22:48 IST
