WSJ.com - India Acts to Lift Foreign Investment: "Indian Prime Minister Manmohan Singh said regulations such as Press Note 18 were an anachronism as India modernized its economy. 'New joint ventures and collaborations will have to be shaped by commercial contractual agreements based on the free will of partners without government interference,' Mr. Singh said.
The policy shift was hailed as a sign that Mr. Singh's government, which gained power in elections last May, is serious about changing India's overregulated economy."
All hail Manmohan Singh; this can only be good news for the Indian economy. It does put local businesses at risk of losing some market share but I believe the increased competition will create a consumer paradise.
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