http://www.thehindu.com/business/article2699123.ece


Microsoft India Chairman Bhaskar Pramanik, on Thursday, said India was “no longer the preferred destination” for IT multinationals (MNCs) due to a host of problems. While, he did not come clear on the problems that IT companies or MNCs were facing in terms of investments or operations, he said that “other countries” were doing “better” than India.

“India is no longer the preferred destination for MNCs (technology MNCs). People are cautious about investments. There are a host of challenges. The government has to talk about and address these,” Mr. Pramanik told reporters on the sidelines of the Infocom Summit here.

According to Mr. Pramanik other countries were doing better (than India) but he refused to be drawn into names of countries which he was referring to or the exact nature of challenges that the industry was facing in India.

“Other countries are doing better on multiple counts,” he said when prodded further.

Calling the move to put on hold the decision to relax FDI norms in retail as “disappointing” and “regressive”, Mr. Pramanik said that there was a need for more investments in the country.

“Whether this investment is coming locally or from outside, it doesn't really matter. My belief is that FDI in any form is good. We have a corporate sector which is entrepreneurial and the State governments are savvy. We will be able to put in place all the checks that are needed”, he said.

Keywords: Microsoft, IT multinationals

-----------------------------------------------------------------
Sunny Leone a true Canadian DESI now back in India !.