BHP's India loses its spice

BHP Billiton's decision to step back from its costly projects in India reflects the realities of dealing with restrictive investment rules and complex government requirements.

India’s attractiveness as a destination for foreign investment capital has received a fresh blow from the world’s biggest miner. BHP Billiton has decided to walk away from nearly all its oil and gas exploration projects in the country, frustrated by lengthy delays in receiving permits and clearances.

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