US dailies hail FDI liberalisation in retail, aviation as 'biggest economic reforms'

New York: Leading US dailies have described India's decision to allow FDI in multi-brand retail and aviation as "biggest economic reforms" in two decades, while apprehending these proposals pose a "big political risk" for the Prime Minister Manmohan Singh led UPA government.
'The New York Times' said Singh's Congress-led government is "under heavy pressure to kick-start India's slowing economy, boost employment and improve the country's shambolic infrastructure" and allowing major foreign brands like Walmart into the country is a step in that direction.
The leading US newspaper said the decision of the government to open the retail, aviation and broadcast sectors to foreign investment is "the biggest economic reforms in two decades" but the plans will continue to "stir controversy, and it was not clear whether the government's shaky coalition would hold together long enough to carry them out".
15/09/12 PTI/Economic Times

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Categories: Foreign Sep 2012, New Sep 2012