Ahmedabad: Estimates by Gujarat Dyestuff Manufacturers’ Association (GDMA) indicate that payment of Rs 1,000 crore is pending from Pakistan-based buyers and this would be a major blow to the Indian industry after suspension of bilateral trade.

Explaining this, Yogesh Parikh, president, GDMA, said, “Industries from India export their goods on a credit of 4-6 months and at present, an estimated payment Rs 1,000 crore is pending from Pakistani buyers. Banks from Pakistan have refused to clear these pending dues and this will be a big blow to the Indian industries. Of this amount, roughly 80% payment amount is owed to Gujarat-based manufacturers and exporters.” “We welcome and appreciate the historic decision of Indian government to scrap the special status for Jammu and Kashmir under Article 370 and Article 35A,” he said.

Data by Basic Chemicals, Cosmetic and Dyes Export Promotion Council (BCCDEPC) indicates that Indian companies exported goods such as dyes, dye intermediates, agro chemicals, castor oil, cosmetic and toiletries, essential oils, organic and inorganic chemicals worth Rs 3,656.2 crore in 2018-19. tnn

