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India’s trade war with Pakistan may cost it $1.8b

February 20, 2019

Photo: AFP

Pakistan is considering multiple options to curtail bilateral trade with India. 

A Ministry of Commerce source said that Pakistan may even consider a complete ban on imports from India or an increase in tax and duty rates. A complete ban on Indian movies and television dramas is also another option, the source added.

The volume of trade between India and Pakistan is approximately $2.15 billion. Indian exports to Pakistan are worth $1.8 billion, while Pakistan’s exports to India are worth $350 million.

More than 40 Indian soldiers were killed in Pulwama district of Indian-Administered Kashmir over a week ago. New Delhi accused Jaish-e-Mohammad. Pakistan has asked India to provide any evidence to prove the claim.

In reaction to the attack, India revoked Pakistan’s Most-Favoured Nation status, which affects trade. New Delhi also raised duties on major Pakistani products as a protest against the Pulwama attack.

Related: India launches trade war on Pakistan over Pulwama attack

Around 300 trucks carrying cement, one of Pakistan’s major exports to India, were stuck a day earlier at the Wagah border after duties were suddenly increased 200%. This made importing them very expensive or nearly impossible. Shipments of 170 containers by sea also came to a grinding halt.

The Indian market accounts for a quarter of Pakistan’s total cement exports. In the last financial year, Pakistan sold India $23 million worth of cement. Fruit and vegetable exporters will also bear the brunt of the reaction since they exported $41 million in production.

“We are not dependent on India as far as trade is concerned because there are no normal trade ties between the two counties,” economist Dr Ashfaq Hassan Khan told our correspondent. Khan said trade between the two countries is based on quick imports from India to bridge a gap in case there is any shortage of products like tomatoes, onions or sugar.

Related: Pakistani prisoner murdered inside Indian jail

“Extremist elements in the Indian government are fueling anti-Pakistan sentiments in an effort to win the upcoming elections while the other reason behind this conspiracy seems to be the hearing of the case against India’s Kulbhushan Jadhav in the International Court of Justice,” he said.

Pakistan imports cotton yarn, textile, sugar, machinery and chemicals, among other items from India while India mainly imports cement, textile, leather products, vegetables and fruits from Pakistan.

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  1. Avatar
    Saadullah   February 21, 2019 11:46 am/ Reply

    This is big issue i want to say modi doing this issues and taking the name of our pakistan…

  2. Avatar
    A citizen   February 21, 2019 7:38 pm/ Reply

    Jaish-e-Muhammad itself has claimed the responsibility of the attack. The leader of JEM – Masood Azhar was released after the hijack of Indian aircraft IC 814.

  3. Avatar
    Kuran ka baap   February 21, 2019 9:00 pm/ Reply

    Jem itself claimed pulwama attack. Y govt is not taking action against them?? Actually govt is a puppet in our country in hands of ISI.

  4. Avatar
    Ashfaq   February 21, 2019 9:50 pm/ Reply

    correction required- JeM itself has taken the responsibility.

  5. Avatar
    Saddam   February 21, 2019 9:57 pm/ Reply

    Pak must take against jem

  6. Avatar
    Jahid   February 21, 2019 11:51 pm/ Reply

    Our Pakistan govt and army has to finally take action against Jem and other unwanted elements.
    We want Pakistan to be a developed country but not in terms of terrorism.

    • Avatar
      vikas   February 22, 2019 10:55 am/ Reply

      That will only happen if all pakistani awaam will protest against it, we will support it

  7. Avatar
    Aloke   February 22, 2019 12:54 am/ Reply

    We r ur brothers please stop politics we don’t want bloodshed unite india and pakistan ….Love from india.hate ur terrorist

  8. Avatar
    Allah Baksh   April 9, 2019 9:40 pm/ Reply

    Pakistani terrorists have attacked former Presidents (General Musharraf). They are the sole cause for Pakistan’z economic downfall. All Pakistanus must unite and start killing terrorists. We don’t trust the military anymore.

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