- The Washington Times - Friday, December 31, 1999

Column focuses too narrowly on one business deal in India

The rest of the world's financial news media praise India for the bold economic reforms Prime Minister Atal Behari Vajpayee's government is pushing forward. Unfortunately, James Morrison chooses to regenerate a story whose only purpose is to malign those good efforts and popular opinion ("India's Bureaucracy," Embassy Row, Dec. 16).
&160;&160;&160;&160;&160;&160;As it turns out, the Indian Supreme Court issued on Dec. 13 a ruling that clears the way for the resumption of the Cogentrix Energy deal, while the Indian minister of power has invited Cogentrix officials in for talks to discuss ways to salvage and expedite their investment procedures.
&160;&160;&160;&160;&160;&160;Two branches of the Indian government see this deal as important enough to save and promote.
&160;&160;&160;&160;&160;&160;Only last month, in an address to the U.S. Investment Summit in Bombay, U.S. Ambassador to India Richard Celeste told an audience of Indian businessmen that "virtually every major U.S. company [will be] looking for a presence in India over the next couple of years." Unless the ambassador was merely flattering his Indian hosts, he too must think that India represents an enormous potential market worthy of sustained U.S. investment.
&160;&160;&160;&160;&160;&160;Business deals fall flat every day. Focusing on only one discounts the size, volume and potential of the Indian market to U.S. business and investment.
&160;&160;&160;&160;&160;&160;AMBASSADOR ARTHUR H.
&160;&160;&160;&160;&160;&160;DAVIS (Retired)
&160;&160;&160;&160;&160;&160;Washington

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