YS Sujana Chowdary Updates from Rajya Sabha. Questions Debates and Current News
Wednesday, March 14, 2012
Lifting Ban On Investments From Pakistan
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
UNSTARRED QUESTION NO-181
ANSWERED ON-14.03.2012
Will the Minister of COMMERCE AND INDUSTRY be pleased to state:
(a) whether Government is considering to lift the ban on investments from Pakistan in return for concessions from across the border;
(b) if so, the details thereof;
(c) whether Government is also considering Foreign Direct Investment at par with those from Bangladesh; and
(d) if so, the details in this regard ?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY (SHRI JYOTIRADITYA M. SCINDIA)
(a) to (d): As per extant policy on Foreign Direct Investment (FDI), as contained in ‘Circular 2 of 2011 – Consolidated FDI Policy’, effective from 1.10.2011, issued by the Department of Industrial Policy and Promotion, a non-resident entity (other than a citizen of Pakistan or an entity incorporated in Pakistan) can invest in India, subject to the FDI Policy. A citizen of Bangladesh or an entity incorporated in Bangladesh can invest only under the Government route.
No decision has been notified by Government in regard to permitting investments from Pakistan on par with Bangladesh.
Will the Minister of COMMERCE AND INDUSTRY be pleased to state:
(a) whether Government is considering to lift the ban on investments from Pakistan in return for concessions from across the border;
(b) if so, the details thereof;
(c) whether Government is also considering Foreign Direct Investment at par with those from Bangladesh; and
(d) if so, the details in this regard ?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE & INDUSTRY (SHRI JYOTIRADITYA M. SCINDIA)
(a) to (d): As per extant policy on Foreign Direct Investment (FDI), as contained in ‘Circular 2 of 2011 – Consolidated FDI Policy’, effective from 1.10.2011, issued by the Department of Industrial Policy and Promotion, a non-resident entity (other than a citizen of Pakistan or an entity incorporated in Pakistan) can invest in India, subject to the FDI Policy. A citizen of Bangladesh or an entity incorporated in Bangladesh can invest only under the Government route.
No decision has been notified by Government in regard to permitting investments from Pakistan on par with Bangladesh.
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