India’s communist parties have vowed to fight government plans to increase the level of foreign investment allowed in the country’s economy. The Congress Party-led administration relies upon the four left-wing groups to maintain its majority in parliament. While the communists say they do not want to pull down the government, they have pledged their strong opposition and called the plan unwarranted. Analysts ruled out any immediate threat to the two-month-old coalition. “This is predictable but I don’t think that at this point in time it will snowball into a crisis,” said V Anantha Nageswaran, regional head of investment consulting at Credit Suisse Financial Services in Singapore.Full Story
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