Pakistan business group says trade halt with India cost $40 billion

Pakistan has lost an estimated $40 billion since trade with India was suspended in 2019, according to Noor Muhammad Qasuri, head of the Pak-India Business Council.

The suspension followed the Pulwama terror attack and later tensions between the neighbouring countries.

Qasuri says Pakistani businesses have had to buy raw materials and other goods from farther-away markets, raising transport costs and delaying supplies.

He says restarting imports from India could save Pakistan’s pharmaceutical industry $2 billion to $3 billion a year, while sourcing cotton from distant countries has added costs for textile makers.

He also says closer access to Indian goods could make supplies of fuel, agricultural products and industrial materials cheaper and faster.

Qasuri urged both countries to restore trade, saying it could create opportunities for business, investment, tourism and regional cooperation.

He argued that political differences should not block economic ties and that disputes could be addressed through dialogue.