FDI in multi-brand retail remains a concern, says US expert

One of the big concerns that investors in the US have about India is lack of decisiveness on FDI in multi-brand retail, says a US expert on India.

"There are other issues too, but FDI in multi-brand retail is in a limbo," Richard Rossow, Wadhwani Chair in US-India Policy Studies, Center for Strategic and International Studies CII (East) said in a statement.

He, however, expressed hope that with investor-friendly Prime Minister Narendra Modi at the helm, India will soon catch up and fast emerge as one of the most influential economies in the world.

"In India, we see a big, like-mined economically powerful ally in India," said Rossow, who also raised concerns at the massive trade deficit between the two countries.

"It's almost USD 40 billion-USD 20 billion. In fact, India has a trade deficit with virtually every country. It's a delicate situation," he said.

Also read: Retail in India to become $1 trillion in value by 2020: PwC