India opens door for FDI from Pakistan
- India allowed foreign direct investment (FDI) from Pakistan.
- But it will be only through government route and not through the automatic route.
- Earlier, no individual residing in Pakistan or a company based there was permitted to invest as FDI in India.
- Except a few sectors- Defense, Space and Atomic energy, Govt has allowed all kinds of investments and that too without a cap.
- Measures On, to aid greater export and imports of essential commodities b/w the two nations.
- Earlier Pakistan scrapped the positive list with India. The move unlocked its markets to a wide range of Indian goods. However, it brought in a negative list of 1,209 items it couldn’t import from India. India can now export more than 7,500 tariff lines to Pakistan.
Month: Current Affairs - August, 2012
Topics: Economy • Foreign direct investment • Foreign direct investment in India • Foreign trade of India • Globalisation in India • Pakistan • World • World economy