Good news!!! India is considering all the possibilities for allowing investments from Pakistan but on a case-by-case basis. Mr. Jairam Ramesh, minister of state for commerce said to the media that “Security is a big Concern, but we can consider FDI on a case-by-case basis if relations between two countries improve.” Currently, Pakistan is the only country in the FDI blacklist of India. Recently Bangladesh was removed from the blacklist, many companies and firms of Bangladesh are now interested in setting up its units in India, especially in the North-East States, Ramesh said.
Analysts feel South Asian nations cannot be isolated from the globalization process and economic integration among them is necessary. However, Mr. Ramesh also informed that trade between India and Pakistan across Line of Control will begin by October 21st.
After an analysis around 20 crore will be invested in the next 12 months to create a trade infrastructure. Additionally, around 5 crore has been sanctioned. Trade is also scheduled to start by October 21st on Srinagar-Muzzafarabad route and on October 28th on the Poonch-Rawalkot route. Also India will sign a free trade agreement with Asean (The Association of Southeast Asian Nations) around December 18th, Ramesh said. Talks on investments will soon begin once the deal has been signed, he said.
They have a history wrought with difficulties and distrust and a future which threatens far worse. The worst fear, not just of residents of the two countries but of the region and the world, is that irresponsible governments in both, or either country, could resort to the extreme measure of using nuclear weapons against one another.
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