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Ease of doing business needs to improve: US official

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India needs to improve its ease of doing business, which continues to lag behind that of G20 ( Group Of Twenty, a group of finance ministers and central bank governors from 19 of the worlds largest economies, and the European Union) to attract foreign businesses to invest in the country, Arun M Kumar, director- general of the US ( United States) and Foreign Commercial Service, said on Wednesday.
Speaking at an industry American Chamber of Commerce, Kumar said data pointed to a correlation between better growth, even among Indian states.
According to a study by World Bank last year, Gujarat, Andhra Pradesh, and Jharkhand topped the list of states in this regard. Currently, the Department of Industrial Policy and Promotion ( DIPP) has formulated 340 parameters, on which states have been asked to update their performance till June 30. Kumar said ease of doing business represented amajor stumbling block to India- US business and trade prospects, which he said had massive potential in e- commerce and travel and tourism sectors. He said the US had invested in Indian e- commerce startups and 1.2 million American tourists had visited India. The defence and aerospace industry was pointed out by Kumar as another important segment which had a lot of headroom for growth. India sources 12 per cent of its defence procurements from the US.
Business Standard New Delhi,19th May 2016

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