Post 26/11 India suffers 410 million dollars loss in trade with Pakistan

Karachi, Aug. 19 (ANI): India has suffered a massive loss of about 410 million dollars in its exports to Pakistan due to the heightened tension between both countries following the November 2008 Mumbai terror attacks.

According to a data, during the fiscal year 2008-09 Pakistan's imports from India dropped to 1.03 billion dollars as against 1.44 billion dollars in 2007-08, a down fall of 410 million dollars.

In 2007-08 the exports from India to Pakistan had increased to 1.442 billion dollars, the highest in a year since the partition in 1947.

However, the soured relationship between both countries after the Mumbai attack dampened the trade.

Pakistan imports machinery, vegetables, spare parts, chemicals and raw materials from India, but with war like situation developing after 26/11 the import has virtually stopped or is reduced substantially, The News reports.

The Indo-Pak bilateral trade was also affected badly in 2000 when Pakistan based terrorists attacked the Indian Parliament.

However, in 2003-04 both countries normalized their trade and diplomatic relationship as a result of which the mutual trade and business also showed signs of improvement. (ANI)