India is a difficult place to do business, says Jim Young Kim

The World Bank President Jim Young Kim said in Washington that the private sector strongly feels that India is a difficult place to do business due to many regulations. He called for necessary reforms to create a better environment and spur growth.

The World Bank President told journalists at a round table with media representatives from eight countries that the Indian government,
especially the leadership knows it very well and they’re moving in a direction to try to improve that.

The media representatives from India, China, Mexico,Brazil, Indonesia, Bangladesh, South Africa and Tunisia took part in the round table held on the sidelines of the annual Spring Meeting of the International Monetary Fund and the World Bank..

Kim was highly appreciative of the top Indian leadership including Prime Minister Manmohan Singh and Finance Minister P. Chidambaram.

He was also appreciative of Reserve Bank Governor Raghuram Rajan. Kim said all of them were well aware of the difficulties and what needs to be done to address such challenges.

Noting that India is very focused on improving its educational system, he said that investing in human beings, improving health outcomes
and investing in education, is extremely important for economic growth.

Kim said he is working with the Indian government on ideas to improve their healthcare system.

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