Patel on India ( Pt. 1)
My friend Shashin Patel recently returned for 7 weeks in India. I took the opportunity yesterday (5/30/08) to interview him for our benefit. He noticed some big changes.
One of the most noticeable changes was the availability of all types of merchandise in the stores. The current prime minister, who is an economist, has reduced the tariffs and other blocks to incoming merchandise. Corruption has been reduced because the people are totally fed up with it. There is fear of getting caught among government officials.
Foreign investors still have to have an Indian partner who owns more than 50% of the venture; but because of the tremendous growth in the economy and the improvement of the general prosperity, the investors are coming in. Investors are allowed to repatriate their profits. India’s attractive lifestyle is attracting people and helping to keep the people who are there. That will be the subject of the next blog.
Shashin Patel’s web page is http://www.hospitalitygrp.com
David Segrest is a REALTOR in Charlotte NC. His website is http://www.segrestrealty.com His email is david@segrestrealty.com
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