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India permits Pakistanis to invest in financial markets

August 24, 2012

While investment has been allowed, defence, space and nuclear sectors are restricted from investment. - File photo

ISLAMABAD: The Reserve Bank of India has decided that a person who is citizen of Pakistan, or an entity incorporated in Pakistan, may, with the prior approval of the Foreign Investment Promotion Board of the Government of India, purchase shares and convertible debentures of an Indian company, under Foreign Direct Investment Scheme, subject to relevant terms and conditions.

According to a press release issued by the Indian High Commission here on Friday, such Indian company should not engage in sectors/activities pertaining to defence, space and the atomic energy and sectors/activities prohibited for foreign investment.