CII bats for increased India-Pakistan trade | SupportBiz

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CII bats for increased India-Pakistan trade

The Confederation of Indian Industry (CII) President Adi Godrej said that it was possible to very considerably increase trade and investment with Pakistan. He stated at a news conference in Hyderabad that the CII had sent two important delegations recently to Pakistan and Japan.

"It is possible to increase trade and investment with Pakistan very considerably. Pakistanis are also very interested," he said.

Godrej said that the Japanese were also very interested in investing in India. Stating that the CII was working to improve the investment sentiment, he said that delegations would soon be sent to the United States, Britain, Latin America and many other parts of the world.

He agreed that the investment sentiment was poor, especially at the international level, and called for improving this through various measures.

He noted that the perception of the Indian economy - both within India and abroad - had turned quite negative.

The CII, which has mooted a 10-point agenda for the revival of Indian economy, called for easing Foreign Direct Investment (FDI). "We need more foreign exchange coming into the country. We need the technology, managing skills that come with FDI," it stated.

The industry lobby called for opening the troubled aviation industry, insurance, multi-brand retail and several other sectors for FDI.

Underlining the need for increasing the exports, the CII suggested diversification of India's export market. It called for the Foreign Trade Policy (FTP) to extend special focus market schemes to the Latin American region (Brazil, Chile, Jamaica, Guyana), the African region (Egypt, Nigeria, Algeria, Kenya), CIS countries (Russia, Ukraine) and Asia (Iran and Saudi Arabia).