Barack Obama criticism: PMO refers to UNCTAD report, DIPP to highlight growing flow of funds into the country

NEW DELHI: With President Barack Obama questioning the investment climate in India, the Prime Minister's Office ( PMO) has been referring to a UN report and the Department of Industrial Policy and Promotion ( DIPP) to highlight growing flow of funds into the country.

While there was no direct reaction to Obama's comments, the PMO tweeted, giving web-link to the report of the United Nations Conference on Trade and Development (UNCTAD) released 12 days back, apparently to send out an indirect message.

The report had stated that India has emerged as the third most attractive investment destination after China and the US for global companies.

It had noted that foreign direct investment ( FDI) flows into India increased by 30 per cent to $ 32 billion in 2011.

Subsquently, the PMO tweeted a link to the DIPP website which showed the fact sheet about FDI flows into the country between April 2000 to April this year.

During these 12 years, the country saw FDI $ 172.14 billion.

Obama had told PTI in an interview that India prohibited foreign investment in too many sectors such as retail and cited concerns over deteriorating investment climate in the country.