RECORD RISE IN INDO-PAK TRADE: KAMAL NATH
EXPORTS TO PAKISTAN UP BY 328%
Date : 29 Nov 2004
Location : New Delhi
Bilateral trade between India and Pakistan is showing a very buoyant trend during the current financial year (2004-2005) Shri Kamal Nath, Union Minister of Commerce and Industry, has indicated. According to the available bilateral trade data for the first four months of this fiscal (April to July), India’s exports to Pakistan have shown a record 328% increase, having gone up to US $ 167.38 million from US $ 39.10 million during the corresponding months of last year 2003-2004. Imports from Pakistan are estimated at US $ 18.98 million as against US $ 25.31 million during the same period last year, but are expected to also pick up during the remaining months of this fiscal year. Thus, the total two-way between India and Pakistan during April-July of this year has trebled in four months, rising to US $ 186.36 million as against US $ 64.41 million during April-July, 2003. Total trade between India and Pakistan stood at US$ 344.29 million in the full year 2003-04, US $ 251.01 million in 2002-03, US $ 208.77 million in 2001-02 and US $ 250.35 million in 2000-2001. If the present growth trend continues, the total trade between India and Pakistan may cross US $ 500 million during the current financial year 2004-2005.
Last week, the setting up of the Joint Study Group on Economic Cooperation between India and Pakistan was announced at a press conference in Islamabad by the Pakistan Commerce Minister Mr. Humayun Akhtar Khan in the presence of Shri Kamal Nath, following the Indian Minister’s meeting with President Pervez Musharraf in Rawalpindi on 23 November, 2004. The major items of India’s exports to Pakistan are drugs, pharmaceuticals and fine chemicals, inorganic/organic/agro chemicals, rubber manufactured products except footwear, dyes/intermediates and coal tar chemicals, iron ore, manufactures of metals etc. The major items of India’s imports from Pakistan are pulses, machinery except electrical and electronic, cotton yarn and fabrics, fruits and nuts excluding cashew nuts, raw wool etc.