NEW DELHI, Feb 17 (UNI) The Indian Chamber of Commerce and Industry (ICCI) today said the trade between India and Pakistan can touch 10 billion dollar by 2006 if the two countries follow a liberal economic policy and speed up the formation of South Asian Free Trade Area (SAFTA).
"The clandestine trade between India and Pakistan aggregates to several billions of rupees.
If it is brought to the official channel, both the governments will get more revenue in terms of customs and excise duty," ICCI said in a statement here.
ICCI said many of its members, particularly from the Northern region, are chalking out strategies to trade with Pakistan in the backdrop of improving political relationship between the two countries.
It augurs well that Pakistan's IT sector is now increasingly focussing on to learn from Indian counterparts.
Recently, a high level delegation of Pakistani software specialists attended NASSCOM and ESC conferences held in Mumbai and Delhi respectively.
This is a good beginning since it is an area where the private sectors from both the countries could collaborate with each other.
ICCI has also welcomed the decision to resume the cricket ties.
This will have a favorable impact on trade, investment and other avenues of economic co-operation between the two countries, ICCI added.
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