OECD Investment Policy Reviews: India 2009

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This review of India's investment policy finds that India has made tremendous progress in building a policy environment to encourage investment. As a result, the country’s economy is growing more rapidly and FDI inflows have accelerated impressively. However, investment remains insufficient to meet India’s needs, particularly in infrastructure. Current efforts to strengthen and liberalise the regulatory framework for investment need to be intensified. India’s well-developed economic legislation should be implemented at an accelerated pace both at national level and right across India’s States and Union Territories.

OECD Investment Policy Reviews: India charts India's progress in developing an effective policy framework to promote investment for development, especially since the acceleration of economic reform from 1991 onward. It focuses on policies towards investment, trade, competition and other elements of the business environment. Finally, it outlines some of the challenges of implementing national-level reforms at state level.

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Progress and Challenges at State Level

This chapter examines variations in economic growth across states during the reform period and explores possible links with policies towards investment, including foreign direct investment (FDI). The evidence indicates that economic policy reforms are a necessary condition for investment attraction, along with investment in human capital. Maharashtra is cited as an example of successful reform and investment promotion. The chapter ends with tentative suggestions for improving the investment performance of India’s states.

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