India committed to reforms agenda: Sharma

Chandigarh: The government has "binding commitment" to economic reforms and is working towards investor friendly policies, Commerce and Industry Minister Anand Sharma said on Thursday.

"The government has a binding commitment to reforms agenda," Sharma told reporters here, against the backdrop of widespread criticism of policy paralysis in the government.

Asserting that investor confidence in India is very high, Sharma said, "…the government is equally committed to ensure that we have welcoming and investor supported regime in our policies."

Sharma said the government is taking steps to bring economy on the right track. "We had to bear the realities in mind that there is a global downturn…there is a sharp contraction in export demand which is worrying us. We hope that the steps we are taking will ensure that we remain in right direction …we wait for the results," he said.

Last year, India received highest FDI in any year ever since the economy was opened for foreign investments, he added. "..we crossed USD 50 billion last year (in foreign investments)." Sharma was here to meet Punjab and Haryana Chief Ministers to discuss various industry related issues including FDI in multi-brand retail.