India allows investments from Pakistan

August 1st, 2012 - 6:48 pm ICT by IANS  

New Delhi, Aug 1 (IANS) In a major step towards normalising economic relations, India Wednesday announced changes in regulation to allow investment from Pakistani firms and individuals.

The Department of Industrial Policy and Promotion (DIPP) issued a circular making changes in the Consolidated FDI Policy to allow investments from the neighbouring Pakistan.

The government of India has reviewed the policy and “decided to permit a citizen of Pakistan or an entity incorporated in Pakistan to make investments in India, under the government route,” the ministry of commerce and industry said in a statement.

Pakistani investments are allowed with immediate effect in sectors and activities other than defence, space and atomic energy, it said.

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