Trade war between India and Pakistan may cost India 1.8 billion dollars – Research Snipers

Trade war between India and Pakistan may cost India 1.8 billion dollars

According to the details, Pakistan is considering multiple options to cut bilateral trade with its neighbor country India.

As per the information from the Ministry of Commerce, Pakistan may even impose a complete ban on the imports from India or increase the rates of the tax and duty. A complete ban on Indian songs, movies, dramas is also another option.

Read Also: Anti-Polio Team Files FIR Against Fawad Khan

The total volume of trade between the two neighboring countries is approximately 2.15 billion dollars. The exports from India to Pakistan are worth 1.8 billion dollars, while the exports from Pakistan to India are worth 350 million dollars.

So if India started the trade war with Pakistan, it will cost it 1.8 billion dollars.

A suicide attack at Pulwama district in Indian Occupied Kashmir killed more than 40 Indian soldiers over a week ago. Right after the attack, the Indian authorities accused Jaish-e-Mohammad of the suicide attack.

On the other hand, Pakistan has asked the Indian authorities to provide any evidence to prove its claim regarding the attack.

In a response to the Pulwama attack, India has announced to revoke Pakistan’s Most-Favoured Nation status, which effects the trade between the two countries. The government of India has also increased the duties on major Pakistani products as a protest against the attack.

A day earlier, as many as 300 trucks carrying cement, one of the major Pakistani exports to India, were stuck at the Wagah border crossing in Lahore after the duties on the imports from Pakistan were suddenly increased by 200%. This step by the Indian government made the import of cement from Pakistan very expensive or nearly impossible.

“As far as the trade in concerned, we are not dependent on India because there are no normal trade ties between Pakistan and India,” one of the top economists, Dr Ashfaq Hassan Khan said.

He said that the trade between Pakistan and India is based on quick imports from India to fill the gap in case there is any shortage of products such as tomatoes, onions, or sugar.

“The extremists in the government of India are fueling the anti-Pakistan sentiments in an effort to win the upcoming general elections in the country. The other reason behind this conspiracy is seems to be the hearing of Kulbhushan’s case in the International Court of Justice,” Mr Khan added.