The
World Bank President Jim Young
Kim said
today in Washington that the private sector strongly feels that India is a
difficult place to do business due to many regulations.
He called for necessary
reforms to create a better environment and spur growth. The World Bank
President told journalists at a round table with media representatives from
eight countries that the Indian government, especially the leadership knows it
very well and they're moving in a direction to try to improve that. The media
representatives from India, China, Mexico,Brazil, Indonesia, Bangladesh, South
Africa and Tunisia took part in the round table held on the sidelines of the
annual Spring Meeting of the International Monetary Fund and the World Bank..
Kim
was highly appreciative of the top Indian leadership including Prime Minister
Manmohan Singh and Finance Minister P. Chidambaram.
He
was also appreciative of Reserve Bank Governor Raghuram Rajan. Kim said all of
them were well aware of the difficulties and what needs to be done to address
such challenges. Noting that India is very focused on improving its educational
system, he said that investing in human beings, improving health outcomes and
investing in education, is extremely important for economic growth. Kim said he
is working with the Indian government on ideas to improve their healthcare
system.
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