Afghanistan seeks Indian investments to enhance ties

Mining, agriculture and agribusiness, information technology and telecommunications are some of the potential areas of Indian investments in Afghanistan The Dollar Business Bureau

India has been playing a significant role in the reconstruction and rehabilitation of Afghanistan and this has been reflected in the strategic partnership agreement, signed between Afghanistan and India

Afghanistan has invited the Indian industry to invest in the country’s key areas including energy, cement and fertilisers in order to stimulate trade and investments between the two countries. Afghanistan’s Chief Executive Abdullah Abdullah, who is leading an Afghan delegation to India with an aim to stimulate economic cooperation between the two neighours, said, “The use of renewable energy, thermal electricity, cement, fertilisers chemicals, agriculture and steel could play a key role in business development with potential of high returns.” On Wednesday, industry bodies ASSOCHAM, FICCI and CII organised a joint meeting with the Afghan business delegation to discuss the potential areas of collaborations between the two countries. Afghanistan’s Commerce and Industries Minister Humayoon Rasaw also highlighted some of the initiatives taken by his government to create a holistic business environment in the country. “We allow flexible foreign ownership of enterprises, easy repatriation of profits, treat foreign investors identically to domestic ones and we allow accelerated depreciation as well as tax holidays,” Rasaw said. Afghanistan Chamber of Commerce and Industries (ACCI) Vice Chairman Mohamad Younas Mohmand, who was also a part of the Afghanistan’s delegation said, “Afghanistan as trade hub of Asia and the connective tissue between South and Central Asia, with its untapped resources and economic opportunities has a lot to offer for the improvement of regional cooperation. Meanwhile, India is the most attractive and easy-to-access land of opportunities for Afghans. We hope that new chapter of Indian-Afghan relations will keep improving for the benefit of both nations and the region.” ASSOCHAM’s CMD and Senior Managing Committee Member S C Aggarwal said that India has already been playing a significant role in the reconstruction and rehabilitation of Afghanistan and this has been reflected in the strategic partnership agreement signed between Afghanistan and India. “We are sure that over the long run, the multi-dimensional Indo-Afghan relationship will only grow, in line with the two nations’ historic ties and converging interests,” he said. Aggarwal signaled Afghanistan’s mining, agriculture and agribusiness, information technology and telecommunications as potential areas of investments and said that the visit will give impetus to the current dialogues towards enhancing trade and investment between the two nations. Deepak Amitabh, Co-Chairman, Afghanistan-India Chamber of Commerce and Industry (AICCI), said that India has already taken lead with respect to the Chambers Of Commerce Confidence Building Measure’ and the ‘commercial opportunities’. “We have already initiated work in this regard, and intend to develop a cooperative framework through which we are able to bind the region through trade, energy and transport linkages that will act as a major confidence building measure and contribute to greater economic synergies in the region, thus spurring economic growth in Afghanistan and beyond,” Amitabh said. Tata Sons’ Principal Resident Representative Sanjay Singh, who was also present during the summit said, “A positive boost from Afghanistan in resolving issues relating to improved governance, enhancing security, transparency in all business deals, improved connectivity, relaxed visa regimes, will help in fostering the new economic relation between India and Afghanistan.

February 04, 2016 | 05:45pm IST

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The Dollar Business Bureau - Feb 04, 2016 12:14 IST

Afghanistan seeks Indian investments to enhance ties

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