Our investments won’t harm Pakistan: CII
10 May 2012 5:58 AM GMT
Seeking to allay fears that Indian investments would harm the interests of the Pakistan industry, a member of the visiting Indian business delegation said strengthening of economic ties would be a win-win situation for both the countries.
Director general of the Confederation of Indian Industry (CII) Chandrajit Banerjee said that Indian businessmen were aware of the concerns of Pakistan industry.
‘They fear that their businesses will be closed if we invest in the local market. In fact, it will be a win-win situation for both countries,’ he said.
Banerjee is part of the Indian business delegation which attended the two-day business conference that was addressed by Prime Minister Yousuf Raza Gilani and foreign minister Hina Rabbani Khar earlier this week.
Meanwhile, the chairman of Bajaj Auto Limited, Rahul Bajaj, said trade between the two countries was moving forward at a considerable pace and this was a good sign so far as bilateral relations was concerned.
Banerjee said Indian traders want Pakistan to remove the barriers created by the negative list. ‘Then see the trade between the two countries growing manifold,’ he said.
Pakistan said it intends to do away with the negative list by December, paving the way for giving India Most Favoured Nation-status by next year. However, Pakistani officials have linked the move to India removing what they describe as ‘non-tariff barriers’.
‘Foreign direct investment will come to Pakistan. Indian industry will invest in Pakistan in the sectors it is allowed. It will not only help generate employment here but products will be available at competitive prices,’ Banerjee said.
Director general of the Confederation of Indian Industry (CII) Chandrajit Banerjee said that Indian businessmen were aware of the concerns of Pakistan industry.
‘They fear that their businesses will be closed if we invest in the local market. In fact, it will be a win-win situation for both countries,’ he said.
Banerjee is part of the Indian business delegation which attended the two-day business conference that was addressed by Prime Minister Yousuf Raza Gilani and foreign minister Hina Rabbani Khar earlier this week.
Meanwhile, the chairman of Bajaj Auto Limited, Rahul Bajaj, said trade between the two countries was moving forward at a considerable pace and this was a good sign so far as bilateral relations was concerned.
Banerjee said Indian traders want Pakistan to remove the barriers created by the negative list. ‘Then see the trade between the two countries growing manifold,’ he said.
Pakistan said it intends to do away with the negative list by December, paving the way for giving India Most Favoured Nation-status by next year. However, Pakistani officials have linked the move to India removing what they describe as ‘non-tariff barriers’.
‘Foreign direct investment will come to Pakistan. Indian industry will invest in Pakistan in the sectors it is allowed. It will not only help generate employment here but products will be available at competitive prices,’ Banerjee said.
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