Policy making our 'sovereign' right: Anand Sharma

July 16, 2012 17:24

Asserting that policy decision is "sovereign' right of the country, Commerce and Industry Minister Anand Sharma on Monday said the Barack Obama administration should itself lead the fight against protectionism and trade barriers.

In his reaction to the US President's remarks that India must carry out difficult economic reforms, Sharma said, "he (Obama) has every right to convey what his perceptions are but the policy making is a sovereign decision and India's FDI policy regime is investor-friendly'.

Obama in an interview to PTI noted that India prohibits foreign investment in too many sectors such as retail and endorsed another wave of economic reforms.

"It is still too hard to invest in India. In too many sectors, such as retail, India limits or prohibits the foreign investment...which is necessary for India to continue to grow,' Obama had said.

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