Juicy Kashmiri apples may soon sweeten relations between India and Pakistan. Thanks to cross-LoC trade which is likely to take off soon.
Cross-LoC trade between the two countries will take off soon
SRINAGAR: Juicy Kashmiri apples may soon sweeten relations between India and Pakistan. Thanks to cross-LoC trade which is likely to take off soon.
“We have finalised all modalities for cross-LoC trade. We were waiting for the new government to be formed in Pakistan. Now that the process has started, we are hopeful to ink the final agreement within 90 days’ time. Soon after that, trade will start,” said Jairam Ramesh, union minister of state for commerce.
The Pakistani government has agreed on nine items that would be traded from J&K across the LoC. They include carpets, rugs, shawls, embroidery, handicrafts, fruits and silk products.
“The trade between the two countries would be an all-season affair unlike the trade through Nathu La pass which remains open for a few months,” said Ramesh. “There are no bottlenecks as such. We have identified the points from which trade will take place on the LoC. The necessary infrastructure is being laid on both sides to facilitate the trade. The Pakistani government is very eager,” said Ramesh.
Ramesh added India has become the market leader in the world in carpet exports. “Our carpet exports have touched Rs 4000 crore. Kashmir constitutes 20 per cent of the total Indian exports at Rs 1000 crore. We have overtaken Iran and now we are the number one in carpet exports,” he said.
On the domestic front, a group of 12 FIIs visited Kashmir and showed interest in investing in hydro power, financial services and small and medium enterprises. “We have the potential of generating 20,000 megawatt of hydro-power. We have only power development corporation in the government sector which we want to divest and go public. These FIIs are keen to invest in the power sector,” said Haseeb Drabu, chairman of J&K bank and economic advisor of Jammu and Kashmir.
Ramesh also said the state would be on the IT map of the country soon. “TCS has agreed to send a team lead by its CEO in May to see the potential for development of IT. I have also talked to Azim Premji who has shown keenness to visit J&K. Nascom is holding an assessment competence test on the same pattern that was adopted in the north east,” the minister said.
h_ishfaq@dnaindia.net
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