The trade between India and Pakistan in the financial year 2024-25 (April-January) was less than $ 500 million. At the same time, India’s total trade was more than $ 800 billion. In such a situation, the closure of trade will affect Pakistan’s economy. Since Pakistan’s economy is already weak, the ban with India will be a loud shock for it.
More trade than attic border
After the attack in Pahalgam, India took action and closed the attic border. In the financial year 2023-24, there was a trade of more than Rs 3800 crore between the two countries this route. In FY 2022-23, this trade was more than Rs 2250 crore.
In 2019, there was a terrorist attack in Pulwama. Earlier in FY 2018-19, the total trade between the two countries through the Attari Land Port was more than Rs 4370 crore. After the Pulwama attack, India imposed a 200% fee on Pakistani goods. This led to a significant decline in trade between the two countries. In the financial year 2019-20, the trade between the two countries fell to Rs 2772 crore through the Attari Land Port.
How much effect on which country?
The closure of trade between India and Pakistan will not affect India’s economy much. Because export with Pakistan is very low. If we talk about Pakistan, then this ban is a matter of concern for the neighboring country. Actually, the things that India exports to Pakistan includes medicines. If Pakistan does not get medicines from India, then there may be a crisis.