India overturned its ban on foreign investment from neighbouring Pakistan on Wednesday, the commerce ministry said, in a move designed to build goodwill amid a renewed push for a peace settlement.
“The government of India has reviewed the policy… and decided to permit a citizen of Pakistan or an entity incorporated in Pakistan to make investments in India,” said a statement from the ministry. Apart from defence, space and atomic energy, Pakistani citizens and companies will be able to invest in all sectors a government statement said. All propositions must be notified to the Indian government, it added.
The decision to accept foreign direct investment from Pakistan was taken in April this year when the trade ministers from the two South Asian countries met in New Delhi. They also discussed ways to ease visa restraints on business travel and the possibility of allowing banks from both countries to open cross-border branches.
India and Pakistan are recently making efforts into “trade diplomacy” looking forward to build enough trust to tackle more troublesome issues that divide them, such as Kashmir.
The improved relations between the rivals stem from Pakistan’s decision to grant India “Most Favoured Nation (MFN)” status by year end, meaning Indian exports will be treated the same as those from other nations.
In further progress, the neighbours opened a second trading gate in April along their heavily militarised border, boosting the number of trucks able to cross daily to 600 from 150.
it should be trade coupled with investment as the latter is more long term….
it should be trade coupled with investment as the latter is more long term….
India is also eager to invest in pakistan
They are already investing huge some of money in TTP, BLA and other terrorist organisations operating in the north.
Yes! The investment is generating great returns. We banias know how to invest. wink! wink! Unlike your investment in jihad factories, which is making you bankrupt and world's permanent beggar.
Are the lights on again now? Glad to see shining India so well lit up with candles
Great news,Anything positive is positive.Every positive step taken is moving in the right direction.Why should people suffer when the governments can't seem to get their differences worked out.
The reception of this news greatly different in two different newspapers of two different countries, While Pakistanis welcome move towards normalising of relations, The indians can't seem to stop their whining and appreciate the steps towards betterment of relations. These naive people think they can achieve something by constantly remaining hostile. 800 million indians don't have toilet in their home but the government mindlessly spending on defense.
If 800 million of indian (as you claim) did not pee on the ground, pakistan's tube wells will run out of ground water. So stop complaining and enjoy a drink.
Unnecessary. Besides, the water flows from Pakistan to India.
it should be trade coupled with investment as the latter is more long term….
no way
So now the money looted from Pakistani tax payers and Pakistan's poor will be invested by the friends of Zardari, Nawaz and the Chaudaries in India. How disgusting.
if something is happening for good….we all should happily appeciate it…there is no use of calling oneself over the other.
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