British envoy Rob Young
Indian bureaucracy still an obstacle to FIs, says outgoing British envoy.india Updated: Oct 01, 2003 20:33 IST
Although the Indian economy is growing, the country's bureaucracy still remained an obstacle to faster foreign investments, outgoing British High Commissioner Sir Rob Young said today.
"I believe that the Indian economy is growing and we do our best to apprise British investors of the opportunities in this country. But, there are still some obstacles to rapid investments. The bureaucracy, for one, can be slow," Sir Rob told newsmen after his farewell call on West Bengal Chief Minister Buddhadev Bhattacharjee today.
Sir Rob, who is leaving his post as High Commissioner in October, said that he had come to say 'goodbye' to the chief minister for his 'immense' support to British government's initiatives, especially in the area of development assistance.
Lauding the chief minister for doing his best to attract foreign investments, Sir Rob pointed out that over the past few years, the state had modernised investment opportunities, especially in the food processing, IT and mining sectors where the British have considerable experience.
"I expect to see more British investments in these areas," he added.
Admitting his own fondness for Kolkata which had a historic association with the U K, Sir Rob said investors, however, would not be guided by sentiments while selecting the state. "There is competition from other states as also from other countries," he cautioned.