Afghan Pres woos Indian industry

New Delhi, Apr 10 (UNI) Afghanistan President Hamid Karzai today asked Indian industry to make use of the low tax levels and the single window clearance system in the country to set up manufacturing base in areas like oil and gas, power, hotels, healthcare, cement and banking.

''Our low tax levels along with the huge potential should be encouraging for the Indian investors to set up manufacturing base in Afghanistan,'' Mr Karzai said.

''Afghanistan is the gateway or trade hub to Central Asia. Indian companies will be able to access and sell goods to these markets through Afghanistan,'' he added.

The Afghanistan President was addressing a business meeting, jointly organised by Confederation of Indian Industries (CII), Federation of Indian Chambers of Commerce and Industry (FICCI) and the Associated Chamber of Commerce and Industry of India (ASSOCHAM).

Mr Karzai also said Afghanistan has adopted a free market philosophy and has enacted laws that facilitate business activity while at the same time fully protecting them.

Speaking about the bilateral trade between India and Afghanistan, he said he was optimistic that it would go up significantly from its current level of 250 million dollars.

Citing the example of Afghanistan's trade with Pakistan, Mr Karzai pointed out that bilateral trade had accelerated to 1.2 billion dollars from just 25 million dollars four years ago.

''It is expected to go up to 1.5 billion dollars in the current year,'' he said.

He reminded that India can surpass this mark easily if both the governments cooperate and work on it.

UNI MP SR GC1922