The founder of an MLM business in India’s capital markets says the country’s new government is considering a proposal that would make it easier for companies to get investment from US and British companies.
The proposal would make investments in India from US firms more attractive to foreign companies, said Vijay Agarwal, co-founder and CEO of the online marketing startup Siva.
The proposal comes after a series of announcements made by Indian Prime Minister Narendra Modi in the last month, which have seen him push to revive the countrys economy.
Modi’s push to spur growth has also been met with fierce resistance from US businesses, including from companies that depend on Indian investors for growth, which are wary of any changes to their trade and investment relationship with the US.
The US government, which is currently under pressure from its business partners, has threatened to withdraw its $2 billion in a loan guarantee programme that it has put in place for Indian businesses.
Modis push to make US investments more attractive has been met by fierce resistance by US companies, including those that depend for their growth on India.
Modi said in a speech on Thursday that India would continue to invest in US and other countries, but said it would no longer invest in companies that do not meet their investment standards.
He also said the country was considering a “new set of regulations” aimed at making US investment more attractive.
India’s government on Friday announced plans to expand a programme to encourage US companies to invest.
The US government has previously said it does not want India to follow in the US’s footsteps and has urged India to develop its own policies to encourage more investment from foreign companies.