India hikes customs duty to 200 pc on all goods imported from Pakistan
India Saturday hiked the customs duty to 200 per cent on all goods imported from Pakistan, following revocation of the 'most-favoured nation' status in the aftermath of the Pulwama terror attack.
"India has withdrawn MFN status to Pakistan after the Pulwama incident.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," Finance Minister Arun Jaitely said in a tweet.
India on Friday revoked the 'most-favoured nation' (MFN) status to Pakistan following the Pulwama terror strike.
Increasing duties would significantly hit Pakistan's exports to India, which stood at USD 488.5 million (around Rs 3,482.3 crore) in 2017-18.
The main items which Pakistan exports to India include fresh fruits, cement, petroleum products, bulk minerals and ores and finished leather.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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