A day after India withdrew the ‘Most Favoured Status’ from Pakistan, India today hiked the basic customs duty on all goods coming into India from Pakistan to 200 percentage.
These decisions come in the wake of the worst terror attack on Indian soldiers at Pulwama in the state of Jammu and Kashmir. Jaish-e-Mohammed (JeM) terrorist exploded a SUV laden with explosives on the convoy of CRFP who were on their way to Srinagar.
India at the same time announced grave diplomatic measures to completely isolate Pakistan in the international community. Finance Minister Arun Jaitley today tweeted, “India has withdrawn MFN status to Pakistan after the Pulwama incident. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect.”
India has withdrawn MFN status to Pakistan after the Pulwama incident. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect. #Pulwama
— Arun Jaitley (@arunjaitley) February 16, 2019
India and Pakistan trade goods worth US$ 2 billion annually, these two steps will hurt Pakistan due to their struggling economy. India exports cotton, dyes, chemicals, vegetables and iron and steel to Pakistan while importing fruits, cement, leather, chemicals and spices.
Earlier today, US National Security Adviser John Bolton and India’s National Security Adviser Ajit Doval had a telephonic conversation. Apart from expressing condolences Mr. Bolton offered the US’ full support to India in confronting terrorism.
India is building international pressure on Pakistan, and India has sought support to back the naming of JeM leader Masood Azhar as a “UN designated terrorist”.