India turning into 'graveyard' for foreign firms

India has been infamous in recent years for its poor business environment marked by opaque market regulations and capricious law enforcement targeting foreign, especially Chinese, businesses.

In the latest example of the extent to which the country is ready to go in disregarding international law and business norms, its crime-fighting agency on Saturday arrested two senior employees of the India unit of Chinese smartphone maker Vivo on accusations of money laundering.

Vivo has vehemently denied the charges. "We are deeply alarmed by the current action of the authorities. The recent arrests demonstrate continued harassment," a Vivo spokesperson said.