Pakistan, April 26 -- Trade between India and Pakistan has taken a significant hit after the recent attack in Kashmir, which led to the suspension of diplomatic ties. Bilateral trade, which had already declined sharply since 2018, is now facing further setbacks. In 2024, trade plummeted to just $1.2 billion, down from nearly $3 billion in 2018, according to trade analysts.

Following the killing of 26 people in Kashmir, Pakistan suspended all trade ties with India, including trade through third countries. This includes blocking airspace for Indian airlines and halting the transit of goods. This move is expected to negatively impact sectors like pharmaceuticals in Pakistan, as many essential supplies come from India.

India's imports throu...