New Delhi: While representing the Centre in the Supreme Court during the hearing on presidential reference on 2G auction, the Attorney General Goolam E Vahanvati on Thursday showed agreement to the US President Barack Obama’s recent views that ambience in India is not conducive for foreign investment.

Vahanvati invoked the statement of Obama to substantiate the government’s stand that cancelation of spectrum allocation to the private companies could have an adverse impact on prospects of foreign direct investment in India.

US President Obama on Sunday had expressed concerns on unfavourable foreign investment ambience in the country due to too many barriers in too many sectors.

JPN

Latest News from India News Desk