Economic ties: ‘Indian industrialists not keen to invest in Pakistan’
Indian industrialists are not keen to invest in Pakistan at present, said a senior Indian Commerce Ministry Mail Today. A lot of confidence building measures will have to be undertaken before an environment conducive for investment can be created, he added.
This is also evident in the Confederation of Indian Industry’s (CII) recommendation that economic cooperation between India and Pakistan can be promoted through focus on healthcare, IT and entertainment.
The statement comes ahead of Pakistan’s Commerce Minister Makhdoom Amin Fahim’s visit to Mumbai and New Delhi from September 26-30. An 80-member Pakistani trade and industry delegation is accompanying the Minister and CII is organising an interaction with Indian business on September 29.
According to a CII statement, India-Pakistan Textile chief executive officers (CEOs) met in February 2011 in Delhi and agreed to raise direct trade as well as set up a joint task force. A huge market exists on both sides for textiles.
Indo-Pakistan committee on healthcare during its meeting in July 2011 focused on various issues and stressed creation of an enabling environment for healthcare exchange. Poor healthcare infrastructure in both countries can be addressed through private sector initiatives and greater collaboration on common major diseases such as heart disease, diabetes and cancer.
Legal trade and bilateral exchanges can create a better atmosphere for the advancement of entertainment industry in both countries. Release of Indian films in Pakistan and exchange of television content and formats, including extremely popular Pakistani plays can help cement relationship between the two countries, CII statement said.
Bilateral trade in goods has multiplied ten-fold between 2000-01 and 2010-11 to touch $2.7 billion. CII has conceded that the trade balance is largely in favour of India and there is a need to increase import of goods from Pakistan. However, a large volume of trade also takes place through informal channels and through a third country due to restrictions on cross-border movement of goods.
CII has conceded that the trade balance is largely in favour of India and there is a need to increase import of goods from Pakistan.
Published in The Express Tribune, September 27th, 2011.
COMMENTS (5)
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Of course the Indian businessmen do not want to invest here in Pakistan. Us Pakistani-Americans don't want to invest in Pakistan either.
Investment in food sector always yields profit even at the time of war and recession. After all, every one has to eat.
@ Adnan
What makes you think that Shyam is a Pakistani
@Shyam: ok Shyam u r right , But what are u doing for Pakistan as an individual. To blame other is very easy task.
Which Industrialist in his right mind will invest in a potential warzone? With suicide bombing being the order of the day , who can be sure when their workers do not start blowing themselves up in order attain paradise. Business is all about making money, where is the money to be made in a country which itself keeps asking for aid from third countries?