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18-07-2022, 11:22 AM
Updated: July 18, 2022 6:49:27 am
The impact of multiple major global corporations pulling out from India on the country’s foreign investment climate could be amplified by the broader geopolitical implications of these exits, given that several of these companies are based in the US. From automobile companies such as Ford, General Motors and Harley Davidson to Citibank, Holcim, Carrefour, and Metro AG, a string of global companies have either exited, scaled down or are working on pulling out of India.
Notably, while some of these companies have either cited poor competitive position or global business strategies, others have had long-running tiffs with law enforcement and tax authorities.
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Washington-based Hudson Institute directors Hussain Haqqani and Aparna Pande have posited that the Joe Biden administration “must be alarmed” by the decisions of several foreign corporations to either pull out of the Indian market or put their long-term plans on hold. This assumes significance, particularly, because for years the US has hoped to enable India’s rise “as a way of checking China’s growing power,” they wrote.
https://indianexpress.com/article/busine...s-8035446/
The impact of multiple major global corporations pulling out from India on the country’s foreign investment climate could be amplified by the broader geopolitical implications of these exits, given that several of these companies are based in the US. From automobile companies such as Ford, General Motors and Harley Davidson to Citibank, Holcim, Carrefour, and Metro AG, a string of global companies have either exited, scaled down or are working on pulling out of India.
Notably, while some of these companies have either cited poor competitive position or global business strategies, others have had long-running tiffs with law enforcement and tax authorities.
......
Washington-based Hudson Institute directors Hussain Haqqani and Aparna Pande have posited that the Joe Biden administration “must be alarmed” by the decisions of several foreign corporations to either pull out of the Indian market or put their long-term plans on hold. This assumes significance, particularly, because for years the US has hoped to enable India’s rise “as a way of checking China’s growing power,” they wrote.
https://indianexpress.com/article/busine...s-8035446/
