An Assocham release today said that reforms on areas like insurance, pension funds, civil aviation, retail, Foreign Direct Investment (Press Note 1), agriculture and labour policy needs to be hastened.
The industry body also demanded a time bound programme of nine months to complete the pending reforms.
More over it also demanded removal of Press Note 1 to ensure smooth partnership between Indian companies and foreign firms.
"This note is working as a stumbling block between two joint venture partners (one domestic, the other one foreign) to expand their operations without necessary approval from domestic partner in the same technology area," an Assocham release said.
More over, the industry body also called for 74 per cent FDI in the insurance sector and amendment to Banking Regulation Act of 1949.
To boost agriculture sector in the country, Assocham called for urgent farm reforms to help achieve targets set for the 11th plan period.
