Pakistan Business Group Pushes For India Trade Reset After $40 Billion Loss
What Happened
Noor Muhammad Qasuri, chairman of the Pak-India Business Council, said Pakistan has suffered an estimated $40 billion in economic losses since trade with India was suspended in 2019. He said Pakistani businesses were forced to source raw materials from more distant markets, increasing freight costs and delivery times. Qasuri said importing pharmaceutical raw materials from India could save Pakistan $2-3 billion annually, while sourcing cotton from Brazil, Egypt, China and the US has added an estimated $5 billion in costs for its textile sector.
Key Takeaways
The $40 billion figure is an estimate from the Pak-India Business Council, not an independently verified government assessment. The group is using the estimate to argue for restoration of India-Pakistan trade.