India's 'diplomacy' to 'shock' Pakistan's economy facing recession
Monday - February 18, 2019 11:09 am ,
Category : WTN SPECIAL
Export from Pakistan to India to be affected badly
Increasing import duty to make a big loss to Pakistan
FEB 18 (WTN) - Following the cowardly terrorist attack on the CRPF troops in Pulwama, the Indian Government has started cracking down Pakistan. After an angry atmosphere across the country, as you know the Indian government has increased the import duty on goods imported from Pakistan to 200 per cent. International trade analysts say that after this bold step of Indian Government, Pakistan will have to face a major setback and its economy will be badly affected.
For your information, let you know that India imports 10 major products from Pakistan. It includes cotton, cotton textiles, cement, petroleum products, leather, fresh fruits, leather, glass and glassware. This stuff is 95 per cent of the goods exported from Pakistan to India. The experts believe that by imposing heavy import duty on goods imported from Pakistan, India can badly affect the export of Pakistan.
For your information, let you know that the trade between India and Pakistan was 16 thousand crores in 2016-17, which increased to Rs. 17 thousand crores in the year 2017-18 and this trade is only 0.5 percent of the total business of India. During this time, India exported goods worth 1.9 billion dollars to Pakistan, which is less than one percent of India's total exports. At the same time, India imported goods worth $ 48.8 crore from Pakistan, which is less than 0.2 percent of India's total imports.
It is being said that this decision of the Indian Government will have a nominal effect on the Indian economy, but this will have a great adverse effect on Pakistan's exports to India. Cement and fruits are two main items that India imports from Pakistan. Now, when the import duty will be imposed at the rate of 200 per cent, then Pakistan will have to face huge losses. It can be said that this diplomacy of Modi Government is going to be a major setback to Pakistan's economy.
FEB 18 (WTN) - Following the cowardly terrorist attack on the CRPF troops in Pulwama, the Indian Government has started cracking down Pakistan. After an angry atmosphere across the country, as you know the Indian government has increased the import duty on goods imported from Pakistan to 200 per cent. International trade analysts say that after this bold step of Indian Government, Pakistan will have to face a major setback and its economy will be badly affected.
For your information, let you know that India imports 10 major products from Pakistan. It includes cotton, cotton textiles, cement, petroleum products, leather, fresh fruits, leather, glass and glassware. This stuff is 95 per cent of the goods exported from Pakistan to India. The experts believe that by imposing heavy import duty on goods imported from Pakistan, India can badly affect the export of Pakistan.
For your information, let you know that the trade between India and Pakistan was 16 thousand crores in 2016-17, which increased to Rs. 17 thousand crores in the year 2017-18 and this trade is only 0.5 percent of the total business of India. During this time, India exported goods worth 1.9 billion dollars to Pakistan, which is less than one percent of India's total exports. At the same time, India imported goods worth $ 48.8 crore from Pakistan, which is less than 0.2 percent of India's total imports.
It is being said that this decision of the Indian Government will have a nominal effect on the Indian economy, but this will have a great adverse effect on Pakistan's exports to India. Cement and fruits are two main items that India imports from Pakistan. Now, when the import duty will be imposed at the rate of 200 per cent, then Pakistan will have to face huge losses. It can be said that this diplomacy of Modi Government is going to be a major setback to Pakistan's economy.
