India service-sector FDI drops sharply

09/22/2013 | Wall Street Journal (India)

Beset by the same problems plaguing other sectors, India's service industries saw a year-on-year plunge of 36.5% in foreign direct investment in the April-July period. "Lack of financial reforms, restrictions on outsourcing to India by developed economies, inconsistencies in policies and political uncertainties are cumulatively impacting the sentiments of foreign investors," said Krishan Malhotra, head of tax and an expert on FDI at corporate law firm Amarchand & Mangaldas.

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