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Escalating tensions: Pak-India bilateral trade plummets by Rs37 billion

Modi’s combative policies towards Pakistan have affected economic ties as bilateral trade plummeted by Rs37 billion in three years.

Talks on trade have been suspended for four years owing to unfavorable political environment. Last sitting aimed at normalizing trade ties occurred in September 2012.

Though both countries agreed to expedite talk process for normalization of trade in 2014 but since then situation kept on deteriorating at Line of Control (LoC) as a result of which no further sitting was arranged.

Pakistan was facing trade deficit of $1.64 billion with India during first year of Nawaz regime in 2013.

At that time, Indian exports to Pakistan were over $2 billion and Pakistani exports to India were merely $400 million.

After three years, figure of bilateral trade had been reduced to $2.08 billion. Pakistani exports stood at $300 million whereas Indian exports stood at $1.77 billion resulting in trade deficit of $1.47 billion.

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