Made in India show at Lahore in February second week on track

Mumbai: Indian Commerce Ministry says it would go ahead with plans to organize Made in India show at Lahore in second week of February. Commerce Minister Anand Sharma, who held a stock-taking meeting with Ministry officials and representatives of industry, however, indicated that his ministry would continue to watch developments in Pakistan.

“Sharma said the show could happen, lest there be a change in leadership in Pakistan,” Business Standard newspaper quoted a source as saying. According to the source, Sharma asked his officials and industry bodies to complete preparations for the proposed event in which representatives of different sectors have already expressed their desire to participate.

Another matter that came up for discussion, it is learnt, is issue of Pakistan’s move to grant Most Favoured Nation MFN status to India. This, when Pakistan indicated that it would not be possible to do so before October this year.

Federation of Indian Chamber of Commerce & Industry (FICCI) said it was going ahead with its preparations for holding Lahore show. “A CEOs’ delegation will visit Pakistan next month,” FICCI director general Rajiv Kumar said. “We are, however, observing the situation to keep track of any further development.”

India would showcase its strengths and invite Pakistani investors to neighbouring country during Made in India show. “Sectors we plan to market to investors in Pakistan are ICT, manufacturing, infrastructure, agriculture, automobile, auto ancillary, pharmaceuticals,” he said. India will also explore opportunities for joint ventures.

According to a recent FICCI study, India, Pakistan trade amounts to less than 1 per cent of their respective global trade. However, volumes of third-country trade and informal trade indicate tremendous potential for bilateral trade between both countries.
The two countries have imposed several restrictions on official trade, compelling both of them to import certain goods from far-off sources. These are items they can easily import from each other. Such a bilateral trade would ensure cheaper raw materials and low transportation besides economical insurance cost — and all these would translate into quality goods at competitive prices for both countries.

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