London : Prime Minister Manmohan Singh’s team must focus on infrastructure as it opens up to greater foreign investment, the international law firm Eversheds said Friday after latest figures showed India’s GDP beat forecasts.
“Election 2009 has delivered a new outlook for India and its economy,” Gauri Advani, head of India Group at the London-based firm said after official data showed India registered an impressive 6.7 percent growth in fiscal 2008-09, despite the global economic downturn.
“The new government is keen to accelerate the economic growth process. The future is about work on fiscal consolidation, focus on infrastructure and bringing about reforms in the education sector,” Advani said in a comment.
“Now, it is likely India will open its insurance, retail and banking sectors to greater foreign investment. The nation’s pension regulator may also get proper legal standing, which would encourage greater outside investment,” Advani added.