New Delhi- The meeting regarding Most Favored Nation (MFN) and related logistics has been postponed.
After arising war hysteria in India Prime Minister Narendra Modi is weighing all options to hurt Pakistan’s interests, this meeting is also one of them.
Narendra Modi will now chair this meeting next week, Indian news agency ANI stated here on today.
India gave “Most Favoured Nation” status to Pakistan unilaterally in 1996 but Islamabad refused to reciprocate.
If India withdraws the move, the impact will be mainly symbolic because bilateral trade between the two countries represents a fraction – around 0.4 per cent- of India’s overall goods trade.
India will be free to raise tariffs on Pakistani exports, but given the relatively small size of bilateral trade (only 2.61 billion dollars last year) it may not have a significant impact.
On Monday, Modi held a meeting to discuss whether to massively reshape the 1960 Indus Waters Treaty on the sharing of the waters of six rivers with Pakistan.