Finance Ministry will change FEMA to allow FDI from Pakistan

Published: Friday, April 20, 2012, 15:02 [IST]
Finance Ministry to allow FDI from Pak

New Delhi, Apr 20: The Finance Ministry has agreed to amend the Foreign Exchange Management Act (FEMA) to allow the foreign direct investment (FDI) from Pakistan to India, that will boost the Indian economy.

Commerce discussed the matter with Finance last year, but no decision was taken.

On Apr 13, Pakistan counterpart Makhdoom Amin Fahim met Commerce and Industry Minister Anand Sharma to discuss the issue. "India has taken the in-principle decision as part of trade normalisation process to allow foreign direct investment from Pakistan.... Procedural requirements (for FDI from Pakistan) are underway. It will notified soon."

Meanwhile, FDI from Pakistan will strengthen the economic relationship between the two nations.

OneIndia News

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