India’s PM Modi is Committed to Liberalizing the Country’s Economy

Indian Prime Minister Narendra Modi told nearly a dozen U.S. company chiefs on Monday that he is committed to liberalizing his country’s economy, which has underperformed other emerging markets recently after years of breakneck growth.

Modi spoke at a breakfast with 11 chief executive officers during his first U.S. visit since coming came to power in May, vowing to get India’s economy back on track.  The prime minister was headed to Washington for a private working dinner with President Barack Obama on the fourth day of the visit. Modi, however, is fasting.

Among those attending the breakfast at the New York Palace Hotel were the CEOs of Caterpillar and Boeing Co.  “He wasn’t at all like the politicians we’re used to here,” said Caterpillar Chairman and CEO Doug Oberhelman, who shared his impressions of the breakfast meeting with Reuters.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.