Foreign investors spooked? India urged to clarify mining position in wake of iron ore scandal
Sunday's resignation of a state-level Indian politician brought down by a fraud scandal related to iron ore exports is likely to shake the confidence of foreign investors in Canada, says a top Indo-Canadian banker.
Hari Panday, founder of the ICICI Bank in Canada, urged the Indian government to explain its mining policies to Canada — the "mining guru of world" — as well as to important mining jurisdictions Australia and South Africa.