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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: Worswick who wrote (1786)	2/1/1998 10:35:00 AM
From: Mohan Marette	Respond to of 9980

Now Mohan a question. How could India ever compete in a global economy when the machines - used to build the products of this competition - were charged 200% import duties, and now have been reduced to (only) 30% import duties. India is in a race to nowhere until the government allows transparency, and it brings some kind of logic to creating an export economy. Worswick: If you think I know the answers of such complex issues,nothing could be farther from the truch. But that has never stopped me before from shooting my mouth off and voice my opinion. So here it goes. Import duties have come down enormously from their outrageously lofty levels.As you mentioned duties for capital equipments have come down from 200 to 30%,and I admit it is still quite high. But I believe by year 2000 or so all duties will have to come down still substantially according to WTO regulations,and India being a member and signatory will have to comply. China on the other hand is still trying to become a member and as such still trying to get in and besides they still have to worry about that MFN thing every year if they want to export to the United States,a double jeaopardy for China.So things are changing in India,each year the goverment is reducing tariffs and hurdles getting ready for year 2000 when all WTO members will have similar tariff and regulatory structures through out the world,well at least by and large.So there is still for optimism and all is not lost yet,though I wish along with you things could be different a lot sooner.

To: Worswick who wrote (1786)	2/4/1998 10:49:00 AM
From: Thomas Haegin	Read Replies (3) \| Respond to of 9980

Worswick, Mohan, All, that India is a country with great potential is clearly undeniable: a 1bn population is a vast market to sell into and a great pool of talent. All we can hope for is that legislation there becomes more investment friendly over time. How hard is it for an Indian - let's say software engineer - to leave the country? Any restrictions on this or difficulty obtaining a passport? My guess is, people are pretty much free to go. Does anybody know whether there are restrictions for foreigners wanting to buy Indian stocks? I think there are, but I'm not sure. Mohan, maybe the Bombay Stock Exchange has a website <g>. Thomas