An addition of $564 million to its exports would have been a blip for India, which annually exports goods worth $331 billion. But the significance of Pakistan signalling a revival of trade relations would have been far greater. Amid rising sugar prices, Pakistan’s Economic Coordination Committee of the Cabinet on Wednesday had decided to begin importing sugar and cotton from India. However, on Thursday, the Pakistan Cabinet took a U-turn and decided otherwise. There has been negligible trade between the two in 2020; data from the Union commerce ministry shows that India in 2018-19 exported $2 billion worth of goods to Pakistan, $564 million of which was accounted for by sugar and cotton.
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First Published: Thu, April 01 2021. 13:31 IST