— Photo: Nissar Ahmad

NEW HORIZONS: Chief Minister Ghulam Nabi Azad with Union Minister of State for Commerce Jairam Ramesh at the award ceremony of Kashmir Chamber of Commerce and Industry in Srinagar on Sunday.

SRINAGAR: Advocating the promotion of trade across the Line of Control (LoC) in Jammu and Kashmir, Union Minister of State for Commerce Jairam Ramesh said on Sunday that India needed to give up the mindset of exporting only to its neighbours, especially Pakistan and Bangladesh.

Mr. Ramesh, who is on a two-day visit to Srinagar told The Hindu , that the time had come to promote trade across the LoC to have economic integration between the two parts of Kashmir. "This will certainly help in economic development." India was ready to go ahead with it, "but Pakistan needs to respond to the same."

Huge potential

There was a huge potential for trade, but "there should be no misconceptions on either side about possible domination" in the market. "Handicrafts, apples and other fruits from Kashmir have a tremendous market outside. I think it is in the interest of the people to promote trade," Mr. Ramesh said.

Most political parties in the State have been advocating throwing open the LoC for trade.

The Minister made a significant statement on trade between India and its neighbours, such as Pakistan, Bangladesh and China. "We need to change the mindset of only exporting and not importing. This is not a good trend." Pakistan was the third largest importer of tea in the world, but it was not importing it from India, the largest producer of tea. Similarly, Pakistan had large quantities of molasses, but "we do not import it from Pakistan." Likewise, Pakistan had good cotton, which could be imported. "But we are not opening up in this direction."

Need for investments

On Bangladesh, Mr. Ramesh said India's exports were over $2 billion, but imports were just worth $200 million. "Even if we cannot import much from there, we can invest and trade." He wondered why investment in Bangladesh and Pakistan was banned, saying, "We need to review that." "Our imports from Sri Lanka increased after we invested there," he said, adding that the same could be implemented in Bangladesh and Pakistan too.

India was already carrying out trade with China through the Nathu La, and also with Myanmar but that was also limited to petty things. "We can do far greater trade with them than we are doing now," he said.

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