Indian government on Wednesday said it had not taken any decision on allowing investments from Pakistan. "No decision has been notified by the government in regard to permitting investments from Pakistan on par with Bangladesh," Minister of State for Commerce & Industry Jyotiraditya Scindia said in a written reply to the Rajya Sabha.
Earlier, Indian official said Industry Ministry had written to Finance Ministry to permit foreign direct investments (FDI) from Pakistan. Department of Industrial Policy & Promotion (DIPP) had sent a proposal to Finance Ministry for changes in Foreign Exchange Management Act (FEMA) to allow FDI from Pakistan. The government had allowed investments from Bangladesh under the government approval route.
In another reply, Scindia said recently High Commission of India in Islamabad had forwarded a negative list of 1,209 items as reported to be approved by the Pakistan Cabinet. "This shall substantially improve the prospects of export from India to Pakistan," he added.