(MENAFN- QNA) Honda Motor's global chairman Fumihiko Ike has said doing business in India remains difficult and processes in the country are "complicated" and "burdensome".
Ike said Prime Minister Narendra Modi-led government should take steps to improve the investment in the country as poor infrastructure and uncertain tax regime makes it difficult to do business in India, according to a Times of India report Saturday.
Ike's statement comes a day after British telecom operator Vodafone expressed similar views and European oil company BP also amplified "frustration" over the delay in gas price hike, which was delaying the proposed investment by the company.
Vodafone, which is contesting a Rs 200 Billion (US $3.289 Billion) claim by the Indian Government over a capital gains tax issue, said foreign companies find it "difficult" to do business in India because of slower government clearances.
Speaking at the 54th annual convention of Society of Indian Automobile Manufacturers ( Siam) here, Ike said the Indian government needs to take steps to make the country an attractive destination for foreign investors and "improve the business environment for investments".
Ike, who also heads the crucial Japanese Automobile Manufacturers Association (JAMA), said component suppliers to automakers "encounter problems" in getting business permits and having their paperwork done and many of the processes related to the setting up of factories are "complicated" and thus require simplification.
Ike made a special mention of the tax regime in India which he said was "burdensome" when compared to other countries. This, he said, was "impeding investments" in India, the TOI report said.
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