New Delhi, Sep 23 (TIWN) The Modi government has left no stone unturned in inviting foreign investors with claims of an improved business environment backed by unprecedented reforms in the past six years, but what many industry players face is a different story altogether.

The Modi government has left no stone unturned in inviting foreign investors with claims of an improved business environment backed by unprecedented reforms in the past six years, but what many industry players face is a different story altogether.  From high tax levies to retrospective applicability of taxation, companies including multinational corporations (MNC) face a number of obstacles in running and expanding their businesses in India, nonetheless they continue to operate in the country, given the large market it offers to them.

There are a host of global giants including Vodafone Group, Cairn Energy and Walmart which had to face regulatory issues in the country.  Noting that for foreign investments to come in, it is essential that appropriate incentives, single window clearance among other incentives are provided, Sumit Batra, Partner at India Law Alliance, says that India has not been able to provide such comfort to foreign investors.

"Issues such as retrospective applicability of tax laws, change in overall business sentiments, tedious compliances and an era ushered by ordinances, has made things difficult," Batra said.