KARACHI -  President of the Southern Gujarat Chamber of Commerce and Industry (SGCCI) India Kamlesh Yagnik said that it was possible to enhance the existing trade of $2 billion to $25 billion in the next 10 years through collective efforts by business communities of Pakistan and India.

“I am sure it can be achieved through collective efforts by the business communities and governments of both countries”, he added while speaking at a meeting during his visit to the Karachi Chamber of Commerce and Industry (KCCI). Kamlesh Yagnik further noted that currently trade between the two countries was being done via three modes including the direct trade, circular trade and informal trade. “The direct trade was through legal channels and other formalities, followed by circular trade in which India exports products to some other countries which are later imported by Pakistan from these countries whereas Pakistan also exports products to any other country and India imports these Pakistani products from that country”, he added. 

He said that the sizeable informal trade between Pakistan and India requires serious attention. Collective efforts must be undertaken by the governments and the business communities of both countries to reduce this informal trade which if addressed will certainly pave way for improved relations between the business communities of both countries, besides ensuring substantial growth at the economic front.

Kamlesh Yagnik assured that an elaborate paper will be prepared by his organization and sent to the concerned authorities in India for reviewing and easing the visa policy and various restrictions on Pakistanis visiting India.  Speaking on the occasion, chairman of Businessmen Group & Former President KCCI, Siraj Kassam Teli said that Karachi Chamber has been trying and will continue to make efforts to enhance trade between Pakistan and India. “Instead of leaving the task on governments and bureaucracies of Pakistan and India, the business communities of both countries must come forward and lead the way by enhancing trade and business relations, which will ultimately pave way for improved Indo-Pak relations.”

President KCCI, Abdullah Zaki, while welcoming the SGCCI delegation, said that their visit to KCCI will certainly help boost not only the economic ties between the two countries but also create new horizons for further trade and investments in future.

President KCCI, Abdullah Zaki and President SGCCI, Kamlesh Yagnik also signed a Memorandum of Understanding for strengthening cooperation between the two chambers. Senior Vice President KCCI, Muffasar A Malik, former president KCCI, A. Q. Khalil, Junaid Esmail Makda and other members of the Managing Committee were also present on the occasion.