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India wants investment in Afghanistan

India wants investment in Afghanistan

Apr 09, 2012 - 20:45

KABULinfo-icon (PANinfo-icon): The Indian steel minister, Beni Prasad Verma, said on Monday that his country was interested in investment in landlocked Afghanistaninfo-icon.

The visiting Indian union minister inked an agrrement with Mines Minister Wahidullah Shahrani on developing Afghanistan’s iron-ore reserves and promoting its steel industry.

"We want to step up investment here," Verma said, adding that an agreement signed in October last year offered a good opportunity for India’s increased investment in Afghanistan.

Calling India the second largest iron producer in the worldinfo-icon, Shahrani hoped the agreement would pave the way for greater economic cooperation between the two countries.

He promised the Indian government and private companies would be encouraged to invest in Afghanistan's steel and iron sectors.

The accord is in line with the bilateral strategic cooperation agreement inked on October 2011. Other agreements in areas of coal mine and cement will be concluded in the near future.


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