India seeks investments from SAARC countries
India on Tuesday said it was improving the business environment within the country to attract investment from SAARC countries.
By PTI |
NEW DELHI: India on Tuesday said it was improving the business environment within the country to attract investment from SAARC countries.
"I believe that India's globalisation is simply not sustainable without the partnership of the SAARC region. If so, it would be incomplete," Minister of State for Commerce Jairam Ramesh said.
Referring to the recently operationalised South Asian Free Trade Agreement, he said the processes put in place in the region after several years have begun to yield good results.
"India has kept its commitment to SAFTA meticulously," he said, adding that import duties on more than 4537 items have been removed, as far as the least developed countries in the South Asian region; Bangladesh, Bhutan, Nepal, Maldives and Afghanistan are concerned.
The negative list of 744 items comprising largely agricultural and textile items is also being reviewed to further prune it for the least developed countries of SAARC, Ramesh said at a seminar on 'SAARC: Towards Greater Connectivity'.
"Removal of Non-Tariff barriers is equally important for improving the SAFTA further," he said, adding India has adopted indigenous ways to address the issue.
Stressing on the importance of border trade, Ramesh said India has identified 13 centres, one along the border with Pakistan, seven along the Bangladesh border, four along the Nepal border and one along the Myanmar border where it has made investments to upgrade infrastructure.
"I believe that India's globalisation is simply not sustainable without the partnership of the SAARC region. If so, it would be incomplete," Minister of State for Commerce Jairam Ramesh said.
Referring to the recently operationalised South Asian Free Trade Agreement, he said the processes put in place in the region after several years have begun to yield good results.
"India has kept its commitment to SAFTA meticulously," he said, adding that import duties on more than 4537 items have been removed, as far as the least developed countries in the South Asian region; Bangladesh, Bhutan, Nepal, Maldives and Afghanistan are concerned.
The negative list of 744 items comprising largely agricultural and textile items is also being reviewed to further prune it for the least developed countries of SAARC, Ramesh said at a seminar on 'SAARC: Towards Greater Connectivity'.
"Removal of Non-Tariff barriers is equally important for improving the SAFTA further," he said, adding India has adopted indigenous ways to address the issue.
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Stressing on the importance of border trade, Ramesh said India has identified 13 centres, one along the border with Pakistan, seven along the Bangladesh border, four along the Nepal border and one along the Myanmar border where it has made investments to upgrade infrastructure.
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