Indian trade, industry bodies look to Nawaz for India's MFN status

"Bilateral trade could increase rapidly in a short span of time."


Aditi Phadnis May 13, 2013
A lion adorns a hall way of Pakistan's incoming prime minister Nawaz Sharif's farm house in Raiwind in the outskirts of Lahore on May 13, 2013. PHOTO: AFP

Trade and industry bodies in India were upbeat at the result of the Pakistan elections.

The bodies estimated that Nawaz Sharif’s return to power could see bilateral trade, which was $2.34 billion in the financial year 2012-13, increase 10-fold, while India would be able to tap investment potential of over $50 billion in Pakistan.

Arvind Pradhan, Director General, Indian Merchants' Chamber said, “There is a strong possibility of doubling the trade from the current level of around $2 billion in a short span of time. With the coming of Nawaz Sharif, we strongly feel that MFN status will be accorded to India. However, that is not the only   goal, as non-tariff barriers from both sides must be reduced to increase the flow of trade,” he said.

CS Deshpande, Director (research), World Trade Centre, Mumbai warned that two way trade and investment cannot progress significantly unless Pakistan grants India MFN status.

“We welcome the change in the government in Pakistan. We believe that a substantial rise in trade and investment can boost the prosperity and peace in both countries but the onus clearly lies with Pakistan in strengthening the economic dialogue with India,” he said.

COMMENTS (8)

fazil (india) | 8 years ago | Reply

@gp65 : first stabilise the land which you have now and then talk about kashmir.

k. Salim Jahangir | 8 years ago | Reply

@GP65.........We take lead from Bharat.You have short memory & forget what Mr. Nehru promised before the entire world on Kashmir in UN Security Council & then denied the right to self-determination to Kashmiris till today.We don't trust Bharat. @Fact .......Come out of that syndrome, Pakistan is a Sovereign Nuclear State & in the same token millions went to Bharat from Pakistan in 1947. After saying all that about us you still want us to dole out status of MFN to Bharat? WTO or what ever first let Bharat honor her commitments made in UN SC since 1947,until then we are in no mood to offer any concessions.It is always quid-pro-quo my dear.No more free lunches.

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