india s competitiveness as a business destination rajeeva ratna shah secretary department of industrial policy and promotion ministry commerce & industry government november 13 2003 land opportunities strong macro economic performance sustained growth 7 current year 8 next quinqennium decade over 6 50 years goldman sachs exports 19 in 2002 03 non oil imports growing at 31 vibrancy positive balance trade with usa china fii investment us 5 billion so far this developed banking system moving rapidly towards ict integrated core net mature capital market nse third largest bse fifth terms number trades liberalization fiscal reforms stable tax regime just 3 rates for both excise well customs duties full national treatment foreign cos incorporated capacity licensing dispensed compulsory only sectors restrictions on grounds security public health safety fdi being progressively liberalized most items open general license quantitative lifted monetary financial sector interest brought down bank rate prime lending lowered
