John Kerry speaks to IIT students in the national capital. (Photo: ANI)
India's economy will be successful in maintaining its impressive growth if its bureaucracy stops to be "an expert in setting up roadblocks", US Secretary of State John Kerry has said on Wednesday.
Speaking to Indian Institute of Technology (IIT) students in the national capital, he said the red tape and a lack of transparency continued to discourage entrepreneurs and foreign investors although India is now the world's fastest-growing major economy.
"Even while we are seeing impressive gains in India's economic growth, there is still a real question as to whether we are doing so swiftly enough," said Kerry.
For India to come out with more jobs for the 13 million people who enter the labour market every year, Kerry said that the business climate must be enhanced.
"To meet that aim, your entrepreneurs... need the liberty to pursue new ideas urgently, the capacity to start new businesses without a lot of red tape, and access to infrastructure that makes it simpler to translate fresh ideas into successful firms," he said.