Indian goods worth $10 bn annually reach Pakistan via third countries: GTRI

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Indian goods worth $10 bn annually reach Pakistan via third countries: GTRI - Business Standard

Quick Summary:

Explaining the system, Global Trade Research Initiative (GTRI) said that Indian firms send goods to these ports, where an independent company offloads the consignment and keeps the products in bonded warehouses, where goods can be stored without paying duties while in transit.

Indian goods worth over USD 10 billion are reaching Pakistan every year indirectly through ports such as Dubai, Singapore, and Colombo, bypassing trade restrictions, according to estimates of economic think tank GTRI.

"In the bonded warehouse, the labels and documents are modified to show a different country of origin.