“It has limited FDI in too many sectors”

Noting that India has prohibited foreign investments in too many sectors such as retail, U.S. President Barack Obama on Sunday cited concerns over the deteriorating investment climate in that country to endorse another “wave” of economic reforms. Still sounding positive about the Indian economy, “which continues to grow at an impressive rate,” he said that to some extent, India’s slower growth was a reflection of the larger slowdown in the global economy.