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Effect Of 200 Per Cent Customs Duty Imposed Post Pulwama: Imports From Pakistan Decline By Massive 92 Per Cent
Imran Khan during an interaction session in New Delhi, India. (Gurpreet Singh/Hindustan Times via Getty Images)
Imports from Pakistan declined by a massive 92 per cent to $2.84 million in March this year (2019) after India imposed a 200 per cent customs duties on all products following Pulwama terror attack, PTI reported.
On 16 February, India not only announced that it is withdrawing most favoured nation (MFN) status to Pakistan on the backdrop of the Pulwama terror attack but also increased duties on imports from Pakistan to 200 per cent.
The duty was levied on all imported goods from Pakistan including cotton, fresh fruits, cement, petroleum products and mineral ore.
As per the data available with India’s commerce ministry, the imports from the neighbouring country stood at $34.61 million in March 2018. Out of the $2.84 million imports in March, as much as $1.19 million was accounted for cotton import by India.
The quarterly import figures for the January-March period of 2018-19 fiscal also declined by 47 per cent to $53.65 million.
Total trade between the two South Asian neighbours for the year 2017-18 stood at $2.4 billion, with $1.9 billion exports and $500 million imports from Pakistan.
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