National Editorial
Cruise holidays are big business, so it's no surprise that the major players in the industry are seeking to expand into new markets. To this end, Norwegian Cruise Lines decided a year ago to open offices in China, Hong Kong, Singapore, Japan and India. The first four of those offices are up and running, but NCL is still waiting to get all the necessary approvals to open in India. In an interview in Mumbai, company executive Harry Sommer cited "bureaucratic hurdles" for the year-long delay.
This is a too-common story. Despite pledges by prime minister Narendra Modi to slash red tape and improve the ease of doing business, multinational companies with money to invest in India are facing barriers that don’t exist even in other developing economies.
India’s enormous potential is being held back. If Mr Modi wants to create opportunites and build wealth for his people, he needs to follow up his fine words with action.
