No progress in starting trade with Pak in last 3 yrs, Centre tells Parliament

New Delhi: The Centre has informed the Parliament that there has been no progress on restarting trade relations with Pakistan in the last three years.

“In August 2019, Pakistan announced the suspension of bilateral trade with India. Pakistan partially relaxed its ban on trade with India in September 2019 by permitting trade in certain pharmaceutical products,” V Muraleedharan, Minister of State in the Ministry of External Affairs, said in a written response to a question in the Rajya Sabha on July 28.

“There has not been any progress regarding resumption of trade with Pakistan since then,” Muraleedharan added.

On August 7, 2019, Pakistan ceased all trade with India, days after India repealed Article 370 and eliminated Jammu and Kashmir’s special status.

Trade between India and Pakistan decreased as a result, falling from $2.56 billion in FY19 to $329.26 million in FY21.

India exported $2.07 billion to Pakistan in FY19, 0.63 percent of all exports, while importing $494.87 million. India shipped to its neighbour $513.82 million worth of products in FY22, which is approximately 0.12% of all exports, and purchased just $2.54 million worth of goods.

As per its official website of the commerce ministry, India exported $142.14 million to Pakistan in the first two months of FY23. The most biggest product was ‘sugar and sugar confectionery,’ which accounted for $85.84 million, or 60% of all exports to Pakistan.

The post No progress in starting trade with Pak in last 3 yrs, Centre tells Parliament appeared first on News24-English.

, International, ,

Post a Comment

Previous Post Next Post