India and Pakistan will both gain immensely by encouraging bilateral trade In his speech on July 26, after his electoral victory, Pakistan Prime Minister-elect and Pakistan Tehreek-i-Insaf (PTI) chief Imran Khan conveyed a sense of hope when he spoke of the need for harmonious relations with neighbouring countries, including India. He also laid emphasis on better bilateral trade relations. Given the immense potential and the peace dividend that comes with it, it was no wonder that the statement was largely welcomed by trade circles in Pakistan and India.
In health care
Value chain development in surgical instruments is another area. Pakistan’s surgical instruments manufacturing industry, again based in Sialkot, is noted for its expertise. Pakistan is a major supplier of these instruments to the U.S., Germany, France and Belgium. India, on the other hand, is a large medical market which imports these instruments from these developed countries at high rates. Direct imports from Pakistan to India in this area would ensure considerable cost benefits in terms of economics and logistics.