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India’s trade with Pak negligent
Amidst growing tensions in India Pakistan relations in the aftermath of the Uri terror attack, there have been calls for complete shutdown of trade and other relations with Pakistan.
Amidst growing tensions in India Pakistan relations in the aftermath of the Uri terror attack, there have been calls for complete shutdown of trade and other relations with Pakistan. As per data available with the government, the total value of India’s trade with Pakistan was about $ 2.61 billion in 2015-16, which is 0.4 per cent of the India’s total global trade in that year. Value of trade with Pakistan is less than the value of India’s trade with the other neighbours like Nepal, Bangladesh and Sri Lanka.
India’s exports to Pakistan up 17% in 2015-16
Among the major neighbours, India’s exports to Pakistan are the least. In 2015-16, the value of India’s exports to Bangladesh was more than $ 6 billion, to Nepal was $ 3.9 billion, to Sri Lanka was $5.3 billion and to Pakistan was $ 2.2 billion. During the last four years, India’s exports to Pakistan were highest in 2013-14 ($ 2.27 billion) and were least in 2014-15 ($ 1.85 billion). However, India’s exports to Pakistan in 2015-16 increased by about 17 per cent compared to 2014-15. Except to Pakistan, India’s exports to Bangladesh, Nepal & Sri Lanka declined substantially in 2015-16 compared to 2014-15.
India’s overall trade with Pakistan improved in 2015-16, but still less than other neighbours. While trade with all other countries substantially decreased in 2015-16, India’s trade with Pakistan increased by more than 10 per cent. To put in context, India’s global trade came down by 15 per cent in 2015-16. In 2015-16, India’s trade with Bangladesh decreased by 4.4 per cent. It decreased by over 15 per cent with Nepal and there was a 19 per cent decline in trade with Sri Lanka.
India’s exports to Pakistan increased in 2015-16 largely on account of close to three times increase in the export of cotton. The export of cotton increased from $ 200.22 million in 2014-15 to $ 782.34 million in 2015-16. There was also a substantial increase in the export of pearls, cereals, fiber, rubber etc. At the same time, there was a substantial decrease in the export of waste from the food industry, from $159.08 million in 2014-15 to $ 12.71 million in 2015-16.
On the other hand, India’s imports from Pakistan have been fluctuating. The value of imports stood at $ 541.87 million in 2012-13 and in 2015-16, it came down to $441.03 million. India’s major imports from Pakistan include mineral fuels, fruits & nuts, salt, raw hide etc.
Just 0.4% of India’s global trade
The total value of India’s trade with Pakistan in 2015-16 is a meager 0.4 per cent of the country’s total global trade. While the share of exports is 0.8 per cent of global exports, the share of imports is a mere 0.1 per cent of the global imports in 2015-16. The share of trade with Pakistan hasn’t changed much in the last few years. It ranged between 0.3 per cent and 0.4 per cent of India’s total global trade. (Courtesy: Factly.in)
By Rakesh Dubbudu
