OECD bats for consistent FDI policy

The Organisation for Economic Cooperation and Development (OECD) has warned that frequent changes in India s foreign direct investment (FDI) policy could act as a deterrent for overseas investors. The Paris-based multilateral organisation, known as a free market advocate, also called for opening up Indian insurance, banking and retail sectors for foreign participation. India modifies its FDI policy through documents known as Press Notes. Seven such notes have been released in 2009. Though these changes have been consistent in the general direction of deregulation and liberalisation, frequent changes might be considered by foreign businesses as a negative factor contributing to an ...

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