Better business climate, trade norms will help India attract FDI: IMF

Easing business climate and relaxing trade related norms will help India attract foreign investors and improve the current account deficit situation, according to International Monetary Fund (IMF).

The IMF in its India section of the External Sector Report has said that although progress has been made on foreign direct investment (FDI) liberalisation, portfolio flows remain controlled.

India's trade barriers remain significant, it said, adding steps to contain fiscal deficit should be accompanied with measures to enhance credit availability through faster cleanup of balance sheets of banks and corporates.