Begin typing your search above and press return to search.
His name is Khan, after all
access_time 2021-10-18T10:43:46+05:30
Deteriorating situation in Kashmir
access_time 2021-10-21T12:10:18+05:30
Violence in Bangladesh
access_time 2021-10-20T11:40:31+05:30
Not Rahul; Time for Priyanka in Uttar Pradesh
access_time 2021-10-18T15:35:44+05:30
Homechevron_rightBusinesschevron_rightIndia allows...

India allows investments from Pakistan: Sharma

India allows investments from Pakistan: Sharma

New Delhi: In order to strengthen bilateral economic relations, India has allowed foreign direct investment from Pakistan, Commerce and Industry Minister Anand Sharma said on June 8.

Emphasising the need to increase economic engagement with the neighbouring 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) cannot move forward,’ he said at a Ficci function.

The minister said that in the last one year, trade ties between India and Pakistan have moved 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 government 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.


Show Full Article
Next Story