Sharma to Obama: Making policy our sovereign right

Asserting that policy decision is India’s sovereign right,commerce and industry minister Anand Sharma said that the Barack Obama administration should itself lead the fight against protectionism and trade barriers

Written by ENS Economic Bureau | New Delhi | Published: July 17, 2012 2:58 am

Asserting that policy decision is India’s sovereign right,commerce and industry minister Anand Sharma on Monday said that the Barack Obama administration should itself lead the fight against protectionism and trade barriers.

Responding to Obama’s remarks on India’s investor unfriendly policies,Sharma said the Indian FDI policy regime is investor-friendly and that the country has an abiding commitment to reforms and that India remains one of the attractive destinations for foreign investment as most of the sectors are open for FDI.

“We would rather urge the US to demonstrate leadership in bringing down barriers,encouraging capital flows and trade in the world which is good for every economy,” Sharma said.

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