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Home -> Finance -> Full Story

Indo-Pak trade likely to cross $500 mn this fiscal
Monday, November 29 2004 16:46 Hrs (IST)

New Delhi: Trade between India and Pakistan has jumped a whopping 189 percent to $ 186.36 million during the first four months of the current fiscal, with Indian exports to the country rising by 328 percent to $ 167.38 million during the period.

"The total two-way trade between India and Pakistan during April-July 2004 has almost trebled in four months, rising to $ 186.36 million as against $ 64.41 million during the corresponding period last fiscal," an official release said in New Delhi today (Nov 29, 2004).

"If the present growth trend continues, the total trade between India and Pakistan may cross $ 500 million during the financial year 2004-05," it added.

The total bilateral trade between the two South Asian countries stood at $ 344.29 million last year.

Commenting on the growing trade, Union Commerce Minister Kamal Nath said the trade between India and Pakistan was showing a very buoyant trend in the current financial year.

India's exports to Pakistan have also gone up during the period by a robust 328 per cent to $ 167.38 million as compared to $ 39.10 million last year.

Imports, however, have slided by about 33 percent to $ 18.98 million.

PTI