KARACHI: Senior executive of the General Tyre and Rubber Company (GTR) said that the smuggling of tyres has discouraged the foreign investment sector.
He said India was taking advantage of this situation by offering incentives to attract more investment from global tyre makers.
If the government is desperate for foreign investment, it has to curb smuggling of goods, hurting local industries.
Local and foreign direct investment can be attracted by improving supply of basic utilities, like electricity and gas to the industry, and improvement in law and order situation of the country.
Besides these issues, some tariff anomalies are major impediments to the growth of local industries, he said.
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