Now Indian firms can invest in Pakistan: RBI

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Now Indian firms can invest in Pakistan: RBI
The Reserve Bank of India said in the notification that the Indian firms can invest in Pakistan under the approval route. 

Earlier, India opened doors for Pakistan to invest in all Indian sectors apart from defence, space and atomic energy.

"It has now been decided that the overseas direct investment by Indian parties in Pakistan shall henceforth be considered under the approval route," RBI said in a notification.

"Necessary amendments to the Foreign Exchange Management (Transfer or Issue of Any Foreign Security), Regulations, 2004 are being issued separately," the RBI said.

Indian External Affairs Minister S M Krishna concluded three-day meet in Pakistan on positive note.

Read more about: rbi, pakistan
Story first published: Monday, September 10, 2012, 12:00 [IST]
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