Imports from Pakistan to India declined by 92% in March 2019 to $2.84 million

Imports from Pakistan to India declined by 92% in March 2019 to $2.84 million due to the imposition of 200% customs duties on all products after Pulwama terror attack.

Key Points:

• India had hiked the customs duty to 200% on all goods imported from Pakistan including cotton, fresh fruits, cement, petroleum products and mineral ore on February 16, 2019. It had also revoked the MFN (Most Favoured Nation) status which was given to Pakistan in 1996.
• The main commodities imported during month of March 2019 from Pakistan included knitted fabrics, wool, articles of apparel and clothing, preparation of vegetables spices, chemicals, man-made filaments and plastics.
• During January-March of 2018-19 fiscal, the imports from Pakistan decreased by 47% to $53.65 million.
• India’s exports to Pakistan declined by 32% to over $171. 34million in March. However, the exports grew by 7.4% to $2 billion during 2018-19.
• The main products exported by India are organic chemicals, cotton, nuclear reactors, boilers, plastic products, tanning or dyeing extracts, cereals, sugar, coffee, tea, articles of iron and steel, copper and footwear.
• As per Commerce Ministry’s data, the imports from Pakistan were worth$34.61 million in March 2018.Out of the $2.84 million imports in March, $1.19 million was accounted for cotton import by India.

About Pakistan:
♦ Capital: Islamabad
♦ Currency: Pakistani Rupee