The Reserve Bank of India on Monday moved on Monday to tighten gold imports again in an attempt to rein-in a record high current account deficit by taming demand for the yellow metal.
World Bank's Doing Business Indicators ranks India (out of 189) at 132 for trading across borders.
Exports in May 2012 stood at $24.77 billion.
With EU, it is part of the FTA that we will need to negotiate.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
