Pak. loses 7 billion by avoiding India goods

[T90TankGuy]

Do you know that you are highlighting a point which gives more credence to this news?

He does not realise that , he saw the word "hindu" and reacted.

 

[IceCold]

Pak. loses $7 bn. by avoiding India goods
ARUN S

Pakistan suffered a loss of about $7 billion in 2014 by importing items from other countries at a higher cost instead of sourcing them from India, according to a study by the New Delhi-based Research and Information System for Developing Countries (RIS).

The think-tank in the study, to be released this week, found out that the loss was substantial considering Pakistan’s GDP (nominal, 2015) was only about $270 billion. Prime Minister Narendra Modi is slated to chair a meeting to review trade ties between India and Pakistan on Thursday.

Significantly, the RIS study’s findings are in line with the theme of Modi’s recent speech at Kozhikode (Kerala), where he called upon the people of Pakistan to fight a war on unemployment, poverty and illiteracy.

The RIS study — on ‘Costs of Non-Cooperation’ — covered 5,200 items. These included refined petroleum, palm oil, aviation spirit, motor vehicle parts, edible oil, cotton, milk powder, marine products, machinery as well as chemicals and allied products.

‘Costs of Non-Cooperation’ occurs when a country imports from the global market at prices higher than the price at which the same product is available from the regional market, and thereby incurs an additional foreign exchange expenditure on such imports, the RIS said.


Many products that Pakistan imported from third countries were at least three times more costly than the price of the same item from India in export markets, it added.

“The objective of the study is to show Pakistan that they can save on the foreign exchange front if they cooperate in South Asia,” said Ram Upendra Das, professor, RIS.

Pakistan is a net-importing nation with a trade deficit of $22 billion in 2015. In 2015, it imported around $44 billion, while it exported only items worth $22 billion. India-Pakistan trade is far below potential and negligible.

Trade between both the nations in 2015-16 was just $2.6 billion, while according to various estimates the annual bilateral trade has the potential to surpass $20 billion if both countries cooperate and remove barriers and restrictions. Currently, most of the trade happens indirectly through Dubai, Singapore, port of Bandar Abbas (Iran).

Keywords: India-Pakistan trade ties, MFN Status, Pakistan economy


http://www.thehindu.com/business/Economy/pak-loses-7-bn-by-avoiding-india-goods/article9159274.ece

Do you see Pakistan complaining? No! than **** off.

 

[Green Ranger]

We saved 7 billion from not being spent on Raw funded terrorists

 

[Chauvinist]

Sometimes its not the money that matters.....!!

 

[Zibago]

I am cool with it

 

[Nilgiri]

Ps. And if Dubai can't be blocked then I would open Wagah up so that the monoploy enjoyed by certain vested groups in Karachi is busted.

Agreed. Win win.

Rest of your post makes sense too.

 

[coffee_cup]

Indians seem to be very much worried about Pakistan economy if it blocks Bollywood or does not buy Indian things.

We are doing something right here,

 

[tore]

Its war like situation between Pakistan & India, situation has worsen since India got PM Modi. With other Pm in India and a quite peaceful period once could talk about business, but this Pm of Indian republic is only famous for brutalities, terrorism, killing. Indian version om Hitler.

No we have to wait to another person is PM in India, maybe circumstances between Pakistan and India will be better then.

 

[Goenitz]

all the indian members seemed very cool here/.. thats teh good spirit.
On topic: Pakistan can't and musn't depend heavily o indian trade as these can be blocked any time so I think that is why a loss is preferred here instead of a complete 'shortage'

 

[tarrar]

What a nice source, all bhartis know is how to lie. Pakistan should ban import of Indian products & their media should be banned for good.

 

[AZADPAKISTAN2009]

We can get goods from Middle east / Iran / China or else where , we also have local industry

 

[Dil Pakistan]

We don't want a penny of these 7-billion...or even 7-trillion..........

 

[Kabira]

Can we do something about trade through Dubai? How much time is needed before Pakistan can at least stop importing non-essential items? Lets be honest I doubt India is selling anything other then achar, masalas etc to Pakistan through Dubai.

Considering our exports are tanking and imports rising despite huge drop in oil/gas prices, how long can Pakistan go like this?

Worth it. European Union could save $100 billion if it imported freely from Third World. It does not and ends up making the poor consumer in Europe pay extra because of it's racist geopolitics.

If had had any influence I would add extra 25% to trade from UAE excluding oils. That would kill any Indian imports which are organized by the Karachi cross border mafia.

And the best, I mean the best exta regional trading body in our region was made by British and it was called "British Raj". Why did Burma, Pak, India break it up for in 1947? If everything was about trade only?

Ps. And if Dubai can't be blocked then I would open Wagah up so that the monoploy enjoyed by certain vested groups in Karachi is busted.

At least through Wagah things will be cheaper for people of punjab, kpk, ajk, gilget. So looks like this mafia import through Karachi and ship to northern Pakistan were 80% of most of consumers live. While making profit and taking advantage of ban on trade through Wagah but India gets benefit anyway.

 

[Nilgiri]

Lets be honest I doubt India is selling anything other then achar, masalas etc to Pakistan through Dubai.

A lot more than that actually.

http://www.livemint.com/Opinion/JGc...ia-Dubai-The-dynamics-of-IndiaPakistan-t.html

And this was from almost 4 years ago (Informal exports from India to Pakistan back then was around 4 billion USD compared to formal exports of 2 billion USD). It has increased even more now. It just costs Pakistan consumer more in the end.

 

[Kabira]

A lot more than that actually.

http://www.livemint.com/Opinion/JGc...ia-Dubai-The-dynamics-of-IndiaPakistan-t.html

And this was from almost 4 years ago (Informal exports from India to Pakistan back then was around 4 billion USD compared to formal exports of 2 billion USD). It has increased even more now.

WTF at jewelry and diamond being to most imported items.