Bilateral trade between India and Pakistan is conducted mostly through Mumbai-Karachi sea route and Attari-Wagha land route. The year-wise and item-wise details of commodities of the total trade with Pakistan for last three financial years are given in Annexure.
The details of the trade in terms of value between India and Pakistan during last 3 financial years are given below:
(in US$ million)
Source: DGCIS, Kolkata
Bilateral trade dialogue with Pakistan was re-initiated with the 5th round of India-Pakistan Commerce Secretary level talks held at Islamabad in April 2011. This was followed by further rounds of talks held in November 2011 at Delhi and September, 2012 at Islamabad. Three Ministerial level dialogues were also held in September 2011, February 2012 and April 2012. The first ever bilateral visit of Commerce Minister of India to Pakistan was undertaken in February 2012.
Both sides have made considerable progress in improving bilateral trade ties. Pakistan has moved from a Positive List regime to a Negative List regime, which substantially increases the tradable items with India. India has similarly liberalized its earlier restrictions on inward/outward investment flows to Pakistan. Both sides also agreed on a detailed roadmap for Preferential Trading Arrangements under the SAFTA (South Asia Free Trade Area) process.
First India/Pakistan Joint Business Forum meeting was held in June 2013 in Islamabad. This forum also had very productive meeting with Pakistan Prime Minister for further improving bilateral trade ties.