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      India, Pakistan may grant easy visas for business

      Posted AtThe Economic Times

      Businessmen from India and Pakistan may soon be able to undertake hassle-free travel across the border. The two sides are considering a slew of measures to facilitate trade relations that includes long-duration multiple-entry visas without stringent verification by the police and other authorities.

      This could also be a prelude to the South Asian Free Trade Agreement (SAFTA) which is scheduled to kickstart early next year. A liberal business visa regime will be a precondition for any open trade interaction.

      Longer-duration multiple-entry visas with exemption from police reporting are expected to be a privilege for businessmen who require to stay for longer periods to firm up business plans. Pakistanis and Indians visiting each other's countries are currently required to report to the police within 24 hours of their arrival and departure.

      A proposal to allow joint ventures among the entrepreneurs of the two countries is also being considered. The IT and pharma sectors are expected to be the first in this regard, according to sources.

      Pakistani business delegations visiting India have expressed interests in joint ventures with Indian drug majors, such as Ranbaxy and Dr Reddy's, to bring down the cost of drugs in their country. Currently, Pakistan imports expensive drugs from the US and the EU. Also, India's trade with Pakistan through third countries, like Dubai, is estimated at around $3bn.

      October 17, 2005


       

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