In order to strengthen bilateral economic relations, India has allowed foreign direct investment from Pakistan, Commerce and Industry Minister Anand Sharma has said. Emphasizing the need to increase economic engagement with the neighboring countries, Sharma said: “We have allowed Indian investments in Pakistan and Pakistan’s investment, whatever is the amount, to come to India”. He said that without engaging with Pakistan, South Asian economic integration would not be possible. “We are clear that without engaging with Pakistan, South Asia Free Trade Agreement ( SAFTA) could not move forward,” he said at a Ficci function.
The minister said that in the last one year, trade ties between India and Pakistan have move forward. To allow investments from Pakistan, the Department of Industrial Policy and Promotion ( DIPP) had sent a proposal to Finance Ministry for changes in Foreign Exchange Management Act (FEMA) to allow FDI from Pakistan. Sources said that in order to address the security concerns over investments from Pakistan, FDI proposals from the neighbouring country can be routed through the Foreign Investment Promotion Board (FIPB) which is headed by Economic Affairs Secretary in the Finance Ministry. As per the present FDI policy, a non-resident entity, other than a citizen of Pakistan or an entity incorporated in there, can invest in India. The govt had earlier allowed investments from Bangladesh under the FIPB route. Further, Sharma said that Chinese businessmen are also interested in investing in India. “We will be encouraging and welcoming Chinese investments,” he added.
@safdar , while the indians allow trade and “Aman ki Asha” over the table , they stab us with BLA ,BRA ,TTP , SLA under the table. How can there be peace when india has never reconciled with the partition of “their” Akhand Bhaarat ?
Accoriding to them ,were just muslim invaders encroaching on their land. Have you forgotten the famous phrase about the hindu “baghal mein churra moon mein raam raam “?
As for the Khakis ,they have no personal enmities with india , theyre here for our defense .Can there ever be lasting peace when the indians are violating the IWT and building dams on our rivers ?
The indians are not our friends , they can never be our friends ,the sooner everyone accepts this ,the sooner we can have peace (without compromising our national interests).
"…As for the Khakis ,they have no personal enmities with india , theyre here for our defense…"
Why dont they shoot down the drones then? Instead all they do is raise "violation of sovereignty" slogan and go back to their golf game untill the next drone strike!
Very encouraging move by the Indian government.We welcome and appreciate.
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