In a move to boost bilateral economic relations, India today announced its decision to allow investments from Pakistan with immediate effect.
Accordingly, aarring defence, space and atomic energy, Pakistani citizens or businesses incorporated in Pakistan will now be allowed to make investments in India, through the Foreign Investments Promotion Board (FIPB) oute.
This was announced today by the department of industrial policy and promotion under the commerce ministry.
A non-resident entity can invest in India, subject to the FDI policy. However, Pakistanis and Pakistani businesses have so far not been allowed to invest in India.
Currently, Bangladeshi citizens and Bangladesh-incorporated businesses are allowed to invest in India through the FIPB route.
The Consolidated FDI Policy, effective 10 April 2012, had provisions barring investment from a citizen of Pakistan or an entity incorporated in Pakistan.
R Soft Web Hosting