Why in news
What is MFN status?
Following are some of the key benefits of MFN status:
Impact of withdrawal
1. India’s withdrawal of MFN status given to Pakistan is expected to deeply impact Pakistan’s industry.
2. According to exporters body Federation of Indian Export Organisations (FIEO), India mainly exports inputs to Pakistani industry such as basic chemicals and cotton, which is vital for their industry.
3. Hence, if India stops these exports, it would have an adverse impact on the neighbouring nation’s industry. Their cost of manufacturing will go up.
Pulwama terror attack
Pic courtesy: The Nation
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