India limits FDI in too many sectors: Barack Obama

Jul 15, 2012 |

Agencies

Washington

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In a speech hitting at recent India government's decisions on foreign investment, US President Barack Obama said New Delhi is putting too many limits or prohibits foreign capital in too many sectors such as retail.

Obama said the American business community has been concerned over the investment climate in India which is deteriorating fast.

However, he assured, "as India carries out difficult reforms that are necessary, it will continue to have a partner in the US."

Despite challenges and hurdles, US President says the Indian economy was still continuing to grow at an impressive rate.

On the contentious issue of India-Pakistan relationship especially the prolonged dispute over Kashmir, he said it can only be resolved by two countries themselves.

"No other nation including the US can impose solutions to Indo-Pak disputes from outside," Obama pointed out.

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