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LAHORE: Being the major beneficiary of bilateral trade ties with Pakistan, India has not uttered a single word to suspend it, while it has threatened to stop rivers’ water flow to Pakistan, and boycotted South Asian Association of Regional Cooperation (Saarc) scheduled meeting.
According to the data, bilateral trade is always in favour of India, so it will not stop or suspend it for sometimes. In year 2014-15, India exported $1.7 billion worth goods to Pakistan and imported only worth $358 million. Similarly, 11 months figures of (July-May 2015-16) shows that Indian exports to Pakistan has increased 15 percent and reached Rs 171.846 billion from Rs 160 billion while imports are reduced by Rs 4.5 billion down to Rs 29.45 billion from Rs 34 billion.
A spokesperson of Ministry of Commerce said the ministry believed that trade and water issues should not come in conflict. “We know that balance of trade is in favor of India but we are working to increase Pakistan’s exports globally,” he said. The exports to India has decreased during 11 months of last fiscal year while imports increased by 15 percent, he said adding the ministry is aware of the fact and working on different aspects to increase exports as well.
Newly elected president of Lahore Chamber of Commerce and Industry (LCCI) Abdul Basit said suspension of trade with Pakistan will be last decision by India, as Hindu mindset is to promote business irrespective of any situation.
So not a single word has come from politicians, and government of India on the bilateral issue while the India has announced boycotting the South Asian Association of Regional Cooperation (Saarc) scheduled meeting in November in Islamabad and also voiced to violate the Indus Water Treaty.
“Our company was importing soybean from India. But we stop it with a view that supply from India is never dependable as every time in cross border tensions, uncertainty prevails. One cannot do business with uncertainty,” Basit said. Additionally, India has barriers on certain products of Pakistan. For example, Pakistan cannot export meat or meat products to India, as it has been put in sensitive list by Indian authorities while there is no such restriction from Pakistan’s side.
“Pakistan should protect local industry, agriculture and farming sectors by evolving long-term polices and end any dependency on Indian agricultural products,” Basit observed.
Standing Committee on Indo-Pak Bilateral Trade in LCCI Chairman Aftab Ahmed Vohra believed that India will not suspend trade ties with Pakistan. Rather, it will continue proxy war with Pakistan by creating instability and insurgency in Balochistan and other parts of Pakistan, he said.
Additionally, suspension of bilateral trade will also affect both countries’ economy, Vohra said, adding Pakistan imports huge quantity of cotton which means suspension of trade will hurt largest exporting sector of Pakistan. This will also affect the already declining exports of county. Similarly, India is exporting over $1.7 billion worth goods to Pakistan which will directly hit Indian economy. Hence, both economies will suffer setback due to suspension of trade, Vohra said.
“Discussion has started in India to stop exports of cotton to Pakistan and search Bangladeshi and Chinese markets for it,” he said, quoting some Indian media. However, implementation of it is not as easy as saying, he added.
However, All Pakistan Textile Mills Association (APTMA) newly elected Punjab Zone Chairman Ali Ehsan said suspension of trade with India will not affect Pakistan’s economy rather benefit, as India is dumping yarn, cotton yarn, cloth and other textile products. As cost of doing business is rational in India while government of India also gives 25 to 28 export rebate to their textile industry, so it is dumping its products to Pakistan.
“We have not imported a single bale from India this year as India itself facing shortage of cotton,” he said, adding 1.2 million bales imported in 2015-16 against total consumption of 15 million bales, imported 207,965 bales in 2014-15 and 911,435 bales in 2013-14,” he said.
“We discussed it at Friday (today) meeting to import cotton bales from alternate countries including China, US, and others. This will cause some extra freight cost to the industry but nothing is more than country,” Syed Ali Ahsan said. Pakistan, despite the fact bought cotton from India when they were in desperate need to sell cotton in view of their projected large crop size and sold carryover stocks which later found to be false.
India has also announced boycotting 75th Plenary Meeting of International Cotton Advisory Committee (ICAC) to be held in Pakistan from 30 October 2016 to 4 November 2016. An official of APTMA said despite the fact boycotting of the ICAC meeting is a real state of Indian attitude towards Pakistan which is evident from trade deficit.
The fact that balance of trade is in favor of India simply because India is exporting negative list items to Pakistan through a third country and destroying Pakistan’s industry and reaping benefit in the form of millions of jobs in India and loss of millions of jobs in Pakistan. This is a high time to correct this mistake and understand that India is not buying, promoting or selling any product of Pakistan into India which is evident from the facts that Pakistan’s exports to India are negligible in comparison with the exports of India to Pakistan.
https://www.thenews.com.pk/print/154540-India-beneficiary-of-trade-with-Pakistan
According to the data, bilateral trade is always in favour of India, so it will not stop or suspend it for sometimes. In year 2014-15, India exported $1.7 billion worth goods to Pakistan and imported only worth $358 million. Similarly, 11 months figures of (July-May 2015-16) shows that Indian exports to Pakistan has increased 15 percent and reached Rs 171.846 billion from Rs 160 billion while imports are reduced by Rs 4.5 billion down to Rs 29.45 billion from Rs 34 billion.
A spokesperson of Ministry of Commerce said the ministry believed that trade and water issues should not come in conflict. “We know that balance of trade is in favor of India but we are working to increase Pakistan’s exports globally,” he said. The exports to India has decreased during 11 months of last fiscal year while imports increased by 15 percent, he said adding the ministry is aware of the fact and working on different aspects to increase exports as well.
Newly elected president of Lahore Chamber of Commerce and Industry (LCCI) Abdul Basit said suspension of trade with Pakistan will be last decision by India, as Hindu mindset is to promote business irrespective of any situation.
So not a single word has come from politicians, and government of India on the bilateral issue while the India has announced boycotting the South Asian Association of Regional Cooperation (Saarc) scheduled meeting in November in Islamabad and also voiced to violate the Indus Water Treaty.“Our company was importing soybean from India. But we stop it with a view that supply from India is never dependable as every time in cross border tensions, uncertainty prevails. One cannot do business with uncertainty,” Basit said. Additionally, India has barriers on certain products of Pakistan. For example, Pakistan cannot export meat or meat products to India, as it has been put in sensitive list by Indian authorities while there is no such restriction from Pakistan’s side.
“Pakistan should protect local industry, agriculture and farming sectors by evolving long-term polices and end any dependency on Indian agricultural products,” Basit observed.
Standing Committee on Indo-Pak Bilateral Trade in LCCI Chairman Aftab Ahmed Vohra believed that India will not suspend trade ties with Pakistan. Rather, it will continue proxy war with Pakistan by creating instability and insurgency in Balochistan and other parts of Pakistan, he said.
Additionally, suspension of bilateral trade will also affect both countries’ economy, Vohra said, adding Pakistan imports huge quantity of cotton which means suspension of trade will hurt largest exporting sector of Pakistan. This will also affect the already declining exports of county. Similarly, India is exporting over $1.7 billion worth goods to Pakistan which will directly hit Indian economy. Hence, both economies will suffer setback due to suspension of trade, Vohra said.
“Discussion has started in India to stop exports of cotton to Pakistan and search Bangladeshi and Chinese markets for it,” he said, quoting some Indian media. However, implementation of it is not as easy as saying, he added.
However, All Pakistan Textile Mills Association (APTMA) newly elected Punjab Zone Chairman Ali Ehsan said suspension of trade with India will not affect Pakistan’s economy rather benefit, as India is dumping yarn, cotton yarn, cloth and other textile products. As cost of doing business is rational in India while government of India also gives 25 to 28 export rebate to their textile industry, so it is dumping its products to Pakistan.
“We have not imported a single bale from India this year as India itself facing shortage of cotton,” he said, adding 1.2 million bales imported in 2015-16 against total consumption of 15 million bales, imported 207,965 bales in 2014-15 and 911,435 bales in 2013-14,” he said.
“We discussed it at Friday (today) meeting to import cotton bales from alternate countries including China, US, and others. This will cause some extra freight cost to the industry but nothing is more than country,” Syed Ali Ahsan said. Pakistan, despite the fact bought cotton from India when they were in desperate need to sell cotton in view of their projected large crop size and sold carryover stocks which later found to be false.
India has also announced boycotting 75th Plenary Meeting of International Cotton Advisory Committee (ICAC) to be held in Pakistan from 30 October 2016 to 4 November 2016. An official of APTMA said despite the fact boycotting of the ICAC meeting is a real state of Indian attitude towards Pakistan which is evident from trade deficit.
The fact that balance of trade is in favor of India simply because India is exporting negative list items to Pakistan through a third country and destroying Pakistan’s industry and reaping benefit in the form of millions of jobs in India and loss of millions of jobs in Pakistan. This is a high time to correct this mistake and understand that India is not buying, promoting or selling any product of Pakistan into India which is evident from the facts that Pakistan’s exports to India are negligible in comparison with the exports of India to Pakistan.
https://www.thenews.com.pk/print/154540-India-beneficiary-of-trade-with-Pakistan
