PAKISTAN EYES TRADE REBOOT, AWAITS INDIA'S GREEN LIGHT

Resuming business with its larger, fast-growing neighbour clearly makes sense, but Indian companies will require some convincing

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Last week, Pakistani Finance Minister Ishaq Dar surprised many by mentioning, almost casually, that the new government would “thoroughly examine trade matters with India.” This potential revival of trade relations signals a significant shift for Pakistan, which severed economic ties after Indian Prime Minister Narendra Modi unilaterally revoked Kashmir’s special constitutional status in 2019. Previously, Pakistani leaders had maintained that relations wouldn’t be restored until the decision was reversed.

In the realm of geopolitics, the recent statement by Pakistani Finance Minister Ishaq Dar regarding the potential resumption of trade ties with India might not be as surprising as it initially

seems. Delving deeper, it’s evident that the Pakistan Muslim League-N, led by former Prime Minister Nawaz Sharif, comprises a unique coalition of semiurban petty bourgeoisie and influential industrialists. This alliance has long recognized the mutual benefits, both economic and strategic, of fostering normalized trade relations with India.