Tata Nano, the world’s cheapest car, will be assembled and sold in Pakistan after business groups of Pakistan and India have completed initial talks to bring the car across the border.
IMGC Global chairman Shaikh Amjad Rashid told The Express Tribune that his group with an initial investment of $10 million will assemble the low-priced Nano in Pakistan amid coordination with Tata Group of India. It has been decided that an existing assembly plant will be used initially for assembling the 623cc car.
The group has received a letter of intent from Tata Group, said Rashid.
The price of the car in the local market is still to be decided. The car came to the streets of India in 2008 at Indian rupees 100,000.
Resumption of dialogue between the two countries has revitalised many joint investment plans and investors on both sides have increased their contacts, said Rashid. He said that Indian trade secretary Dr Rahul Khullar during his visit to Pakistan assured Pakistani investors that barriers in the way of joint investment projects will soon be removed. Dr Khullar also promised that Pakistani traders will be allowed to set up trade offices in India.
Pakistani and Indian businessmen are increasing their contacts after the start of secretary level composite dialogue for increasing trade between the two neighbouring countries. The dialogue is expected to pave the road for better bilateral trade as well as joint ventures.
According to Pakistani traders, after the removal of non-tariff barriers there will be vast opportunities for exporting cement, marble and textile products to India while Pakistan will be able to acquire low-cost technology.
Published in The Express Tribune, May 4th, 2011.
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