Trade between India-Pakistan increases under PM Modi
Nirmala Sitharaman said that this flow of FDI can strengthen bilateral relations and contribute to overall economic development of both countries.
The volume of trade between India with Pakistan has increased from $2354.60 million in 2014-15 to $2539.46 million, said Commerce Minister Nirmala Sitharaman in written reply to Lok Sabha on Monday.
She further said that the exports jumped from $1857.29 million to $2098.43 million but imports from Pakistan decreased from $497.31 million to $441.03 million.
When asked whether the government has permitted FDI from Pakistan in various sectors, Sitharaman said, "With a view to promote bilateral investment and to remove impediments therein, the existing FDI Policy was amended in August 2012 to permit a citizen of Pakistan or any entity incorporated in Pakistan to make investments in India, under the Government route, in sectors/activities other than defence, space and atomic energy".
Further, she said that this flow of FDI can strengthen bilateral relations and contribute to overall economic development of both countries.
Talking about the steps taken by the Government to improve the bilateral trade between the two countries, she said, "An Integrated Check Post (ICP) has been operationalized at Attari (Amritsar) to streamline the movement of trucks between India & Pakistan and significantly enhance the flow of trade through land route".
For strengthening business linkages between the two countries, Business Visas are being issued for a validity of up to three years with multiple entries to certain bonafide and prominent Pakistani businessmen, she said.
During the 7th round of India-Pakistan talks on Commercial and Economic Co-operation held in September 2012 at Islamabad, agreements on redressal of trade grievances, bilateral cooperation and mutual assistance in customs related matters were signed, Lok Sabha was told.