Modi govt's policy U-turn may harm 'Make in India' drive

Surprise policy shifts, such as an apparent U-turn over a locomotive deal with General Electric, risk undermining Prime Minister Narendra Modi’s flagship ‘Make in India’ initiative, which aims to create millions of jobs and boost growth, industry executives say.

GE won a $2.6 billion contract in 2015 to supply 1,000 diesel locomotives - the biggest direct investment in India by a U.S. firm and the first deal awarded to a foreign firm after India allowed 100 percent foreign investment in its railways - part of efforts to overhaul its creaking, colonial-era infrastructure.

But the railways ministry said last