India set to attract more foreign investment, says US economist

Foreign investment in India is likely to increase in the near future as westerners are finding the country more compatible because it is a strong democracy.

Boston-based economist Benjamin R Limoges, who was on a private visit to Varanasi to see the impact of the initiatives taken by the Modi government to ensure cleanliness and development, said that transparency in the functioning of present government had increased.

“The views of westerners about India are very optimistic. India is in the process of getting wealthier. India has a massive untapped potential in various fields. When it comes to investment, westerns trust India more than China because the former is a great democracy.”

“In India, we can see what is happening. We have access to top officials to discuss investment proposals because of democracy where politicians are accountable to the people. Several Americans observe that Modi government has taken a number of steps to make official procedures easier. Therefore, several US firms are now interested in making investments in India,” Limoges said.

“BJP-led government at the Centre is accountable to the people. If BJP doesn’t deliver, Indians will reject the BJP in the same manner they ousted the Congress,” he remarked. “In India, more people now speak English and are growth-oriented. What I can say is that huge investment is likely to pour in India in the near future,” Limoges said. In the past two months, Limoges has travelled to Bangalore, Mumbai and many other cities.