Imports from Pakistan to India has declined by 92 percent to 2.84 million US dollars in March this year after imposition of 200 percent customs duties on all products following Pulwama terror attack. During the January-March period of 2018-19 fiscal, the imports from Pakistan declined by 47 percent to 53.65 million dollars.
India’s exports to Pakistan to have dipped by about 32 percent to over 171. million dollars in March. However, the exports grew by 7.4 percent to two billion dollars during 2018-19. India had revoked the MFN (Most Favoured Nation) status to Pakistan in the aftermath of the terror attack.
It had granted the MFN status to Pakistan in 1996. On February 16 this year, taking strong economic action against Pakistan following the attack, India raised the customs duty to 200 percent on all goods imported from Pakistan.