Internal Apathy A Reason For Slow Indian Economy Rate
Unclear policy of taxation and lack of political enthusiasm to carry on with the sustainable growth of the country is forcing many foreign reputed companies to retreat to their business ventures fromIndia. An executive of Dell said that frequent and long hour of blackouts, the tax rules, which are mostly unclear with hidden conditions, along with the growing tension regarding the menace of the labors, are the major causes hindering the foreign companies to enter the region for doing good business. The reason has also forced the second biggest operator of the airport of the world, Fraport of Germany, to withdraw their development office from India.
The said factors are hugely responsible for creating a very bad image of the country, which is considered as the Asian third largest economy. Reuters has reported that Amit Midha, the president ofJapanand Asia-Pacific for Dell has told that carrying out business activity inIndiahas become a problem since there are too many decision-makers.
He has further added that even this decision-makers are not permanent and in case any new group comes to power of making any decision, they completely ignore the earlier contracts and works according to their own will. Therefore, a lack of will in the political circle has also been held responsible, by many of the business and corporate houses, for the slow rate of growth of the Indian economy.
However, Mr. Midha has left a ray of hope for the Indian counterpart by suggesting that presently Dell has no plans to shift its base fromIndiaand will be retaining the business alliance with the country.