Washington: Observing that the "truth-telling" of US President Barack Obama "evidently pricked the thin skin of India's politicians", a leading American financial daily has said he is in fact "cheering" the Indian elite and not insulting them.
"It is no wonder foreign investors are appealing to their leaders for help against Delhi's protectionism. Singapore Prime Minister Lee Hsien Loong alluded to how these policies created a poor business climate during a Delhi visit last week, which follows concerns more openly voiced by the UK's George Osborne and US Treasury Secretary Tim Geithner.
"If Mr Geithner's boss is now joining the chorus, it's because previous warnings have gone unheeded," The Wall Street Journal said in its editorial on Obama's remarks.
In the interview, Obama had said that India needs "another wave of reforms" to make it "more competitive." The US President went on to say that "in too many sectors, such as retail, India limits foreign investment."...more
06:47 PM, Jul 21, 2012