Allow FDI from Pak, says Ramesh
Security considerations notwithstanding, minister of state for commerce Jairam Ramesh has said India should not block FDI from Pakistan.
By TNN |
Security considerations notwithstanding, minister of state for commerce Jairam Ramesh has said India should not block FDI from Pakistan. “Pakistan should be removed from the Fema negative list for FDI, paving way for Indian companies to invest in the neighbouring country,” Mr Ramesh told ET. The comment adds a new twist to the plan to screen all FDI for security consideration. Interestingly, the comment comes at a time when the security apparatus is working on a comprehensive law to screen FDI on national security grounds.
"Screening by FIPB and security agencies are enough to take care of national security considerations," Mr Ramesh said. He was of the view that there should be no negative list for FDI. In view of the political crisis in Pakistan, the security agencies may not favour permission for FDI from the neighbouring country.
The home ministry and intelligence agencies want countries like North Korea and China on the negative list for FDI along with tax havens like Cyprus and Mauritius.
"Screening by FIPB and security agencies are enough to take care of national security considerations," Mr Ramesh said. He was of the view that there should be no negative list for FDI. In view of the political crisis in Pakistan, the security agencies may not favour permission for FDI from the neighbouring country.
The home ministry and intelligence agencies want countries like North Korea and China on the negative list for FDI along with tax havens like Cyprus and Mauritius.
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