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BW Businessworld

DAILY EDIT: Charm Insiders First

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From all indications it appears that the government and business leaders of the world are lining up visits to revive their interest in India. Early signals from the government have been positive and a sense of activity is rippling across most government departments.

Foreign Minister of France Laurent Fabius, Foreign Minister of Singapore K Shanmugam, US Senator John McCain and Facebook COO Sheryl Sandberg will be in India over the next few days. CISCO CEO John Chambers was here last week. More prominent visits are lined up.

After the hibernation of previous months, such interest of foreign investors and leaders is welcome. The Modi government will have to be careful to not get carried away by such effusive attention. Foreign investors will seek to further their growth in India which had stagnated. Pleasing them should not be the government’s priority. Rather the the Modi Cabinet must start removing hurdles to new and pending projects. Additonally, the government should take policy steps that will revive the manufacturing sentiment for domestic players.

Before charming foreign investors, the Modi government must charm the domestic industry leaders. Unless the internal atmosphere for doing business improves, high profile meetings with global leaders will be futile.

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