Business
Is Pakistan ready to seize US export opportunity? | The Express Tribune

ISLAMABAD:
The United States is undergoing a major overhaul of its trade policies, triggering a broader reshaping of global supply chains. Steep tariff hikes on key exporters like China, India and Brazil are forcing US importers to rethink their sourcing strategies.
This disruption presents a rare and valuable opening for countries like Pakistan to step in and gain market share. With Chinese and Indian exports facing average tariffs of 50% or more, Pakistan’s comparatively low 19% tariff offers a clear competitive edge. The critical question is whether Pakistan is prepared to seize this moment.
American importers are already shifting supply chains away from high-tariff countries, creating new opportunities for agile exporters. Pakistan, with its recent economic reforms reducing input costs and facilitating capital goods imports, is uniquely positioned to capitalise on this trade realignment.
After years of stagnant exports, this market disruption presents a critical window to gain foothold in vacated market segments, particularly where Pakistan’s newly enhanced cost competitiveness can deliver immediate advantages.
Pakistan’s current strongest export position in the US lies in textiles and apparel, where it ships over $5 billion of goods annually. By comparison, China exports $40 billion — apparel about $24 billion and textiles $16 billion — and India $9 billion with a balanced 50-50 split between apparel and textiles.
Even a modest redirection of orders from these countries to Pakistan could generate significant gains. The textile sector, given its existing base and infrastructure, remains the most immediate area where Pakistan could scale up exports quickly.
In addition to textiles and clothing, several other sectors show promise. Pakistan’s leather exports to the US currently stand at $171 million, while its global leather exports total $710 million, highlighting that the country is competitive in this sector.
Similarly, the sports goods industry, known for its world-class football manufacturing, has exports nearing $400 million and is well-positioned to grow with improved branding and market access. The recent emergence of truck and bus radial tyres as an export item to the US is another bright spot. With exports surpassing $100 million last year and over 20% year-on-year growth, it reflects the kind of momentum that can be built with the right focus.
Pakistan’s mobile assembly sector represents one of its most glaring missed industrial opportunities. While India’s mobile exports to the US surged to $7.5 billion in FY 2024-25, fuelled by China tariff diversions, Pakistan’s $160 million in annual exports remain confined to low-end markets, despite sharing similar starting conditions.
The 2020 Mobile Device Manufacturing Policy attracted 26 assemblers through component duty exemptions and local market protection, driving import substitution (90% of domestic demand). However, this inward-focused model, which failed spectacularly in the auto sector, continues to stifle export potential. Component imports now consume $1.5-2 billion annually without generating meaningful foreign exchange as assemblers prioritise lucrative domestic sales over competitive global integration.
The need for change is particularly critical in the engineering goods sector where Indian exports to the US are about $18 billion, or 28% of their exports, as compared to Pakistan’s less than $0.5 billion, or about 7% of its exports. This sector must be freed from the outdated import substitution mindset still embedded within the relevant government institutions.
This is a missed opportunity not just economically but also strategically, as engineering-led exports can help Pakistan diversify its trade base and reduce over-reliance on traditional low value-added sectors. If this sector is freed from micromanagement of government agencies, it could become a key driver of export growth and industrial upgrading.
The global trade order is experiencing its most profound transformation in a generation, presenting Pakistan with a critical opportunity to reshape its economic future. Bold reforms in this year’s budget, particularly tariff rationalisation, are already yielding promising results: a record 17% monthly export surge and 42% growth in customs and other taxes on imports, marking the highest single-month gains in recent history.
While it’s premature to draw long-term conclusions from one month’s data, these early indicators align with economic modelling that predicted benefits from greater openness, validating the reform direction. Critics who focus narrowly on deficits overlook a fundamental truth of development economics: strategic short-term deficits have consistently served as necessary investments for emerging economies to achieve lasting prosperity, as demonstrated by the trajectories of China, Vietnam and other success stories.
The writer is a member of the steering committee on US tariffs. Previously he served as Pakistan’s ambassador to WTO and FAO’s representative to the United Nations
Business
Trade talks: India, EU wrap up 14th round of FTA negotiations; push on to seal deal by December – The Times of India

India and the 27-nation European Union (EU) have concluded the 14th round of negotiations for a proposed free trade agreement (FTA) in Brussels, as both sides look to resolve outstanding issues and move closer to signing the deal by the end of the year, PTI reported citing an official.The five-day round, which began on October 6, focused on narrowing gaps across key areas of trade in goods and services. Indian negotiators were later joined by Commerce Secretary Rajesh Agrawal in the final days to provide additional momentum to the talks.During his visit, Agrawal held discussions with Sabine Weyand, Director General for Trade at the European Commission, as both sides worked to accelerate progress on the long-pending trade pact.Commerce and Industry Minister Piyush Goyal recently said he was hopeful that the two sides would be able to sign the agreement soon. Goyal is also expected to travel to Brussels to meet his EU counterpart Maros Sefcovic for a high-level review of the progress made so far.Both India and the EU have set an ambitious target to conclude the negotiations by December, officials familiar with the matter said, PTI reported.Negotiations for a comprehensive trade pact between India and the EU were relaunched in June 2022 after a hiatus of more than eight years. The process had been suspended in 2013 due to significant differences over market access and tariff liberalisation.The EU has sought deeper tariff cuts in sectors such as automobiles and medical devices, alongside reductions in duties on products including wine, spirits, meat, and poultry. It has also pressed for a stronger intellectual property framework as part of the agreement.For India, the proposed pact holds potential to make key export categories such as ready-made garments, pharmaceuticals, steel, petroleum products, and electrical machinery more competitive in the European market.The India-EU trade pact talks span 23 policy chapters covering areas such as trade in goods and services, investment protection, sanitary and phytosanitary standards, technical barriers to trade, rules of origin, customs procedures, competition, trade defence, government procurement, dispute resolution, geographical indications, and sustainable development.India’s bilateral trade in goods with the EU stood at $136.53 billion in 2024–25, comprising exports worth $75.85 billion and imports valued at $60.68 billion — making the bloc India’s largest trading partner for goods.The EU accounts for nearly 17 per cent of India’s total exports, while India represents around 9 per cent of the bloc’s overall exports to global markets. Bilateral trade in services between the two partners was estimated at $51.45 billion in 2023.
Business
Indias Real Estate Equity Inflows Jump 48 Pc In Q3 2025: Report

NEW DELHI: Equity investments in India’s real estate sector jumped 48 per cent year-on-year to $3.8 billion in the July-September period (Q3), a report said on Friday. This growth in inflow was primarily fuelled by capital deployment into land or development sites and built-up office and retail assets, according to the report by real estate consulting firm CBRE South Asia.
In the first nine months of 2025, the equity investments increased by 14 per cent on-year to $10.2 billion — from $8.9 billion in the same period last year.
The report highlighted that land or development sites and built-up office and retail assets accounted for more than 90 per cent of the total capital inflows during Q3 2025.
On the category of investors, developers remained the primary drivers of capital deployment, contributing 45 per cent of the total equity inflows, followed by Institutional investors with a 33 per cent share.
CBRE reported that Mumbai attracted the highest investments at 32 per cent, followed by Pune at around 18 per cent and Bengaluru at nearly 16 per cent.
Anshuman Magazine, Chairman and CEO – India, South-East Asia, Middle East and Africa, CBRE, said that the healthy inflow of domestic capital demonstrates the sector’s resilience and depth.
“In the upcoming quarters, greenfield developments are likely to continue witnessing a robust momentum, with a healthy spread across residential, office, mixed-use, data centres, and I&L sectors,” he added.
In addition to global institutional investors, Indian sponsors accounted for a significant part of the total inflows.
“India’s ability to combine strong domestic capital with global institutional participation will remain a key differentiator in 2026 and beyond,” added Gaurav Kumar, Managing Director, Capital Markets and Land, CBRE India.
CBRE forecasts a strong finish for the investment activity in 2025, fuelled by capital deployment into built-up office and retail assets.
For the office sector, the limited availability of investible core assets for acquisition indicate that opportunistic bets are likely to continue gaining traction, the report noted.
Business
EY and Microsoft launch AI skills passport: Free program to train youth in AI; focus on career growth – The Times of India

EY and Microsoft on Saturday launched the AI Skills Passport, a free online learning initiative aimed at equipping Indian students and early-career professionals with essential artificial intelligence (AI) skills. The program targets individuals aged 16 and above and is designed to bridge the country’s growing AI skills gap, according to an EY statement, ANI reported.Part of a global effort that has already engaged over 40,000 participants worldwide, the AI Skills Passport offers self-paced learning modules spanning around 10 hours, available in both English and Hindi. The curriculum covers AI fundamentals, responsible AI, and practical applications across sectors including healthcare, finance, and technology. Participants also receive guidance on job readiness, including resume tips, interview support, and networking insights.Learners who complete the program are awarded a verifiable digital badge, enhancing their professional profiles. The initiative is part of EY Ripples, EY’s global corporate responsibility programme, and will partner with not-for-profit organisations to ensure students from economically weaker backgrounds have access to mentorship, learning, and career guidance.Monesh Dange, Partner and Leader, Alliances and Ecosystems, EY India, said, “In an era where AI is revolutionising work, the AI Skills Passport addresses India’s urgent need for skilled talent. Together with Microsoft, we aim to ensure the program is accessible and impactful at scale.”Bhaskar Basu, Enterprise Partnerships Leader, Microsoft India & South Asia, added, “AI is transforming India’s digital economy, and youth are at its core. The AI Skills Passport brings high-quality AI learning to everyone, accelerating Microsoft’s goal to equip 10 million Indians with AI skills by 2030.”
-
Tech6 days ago
I’ve Tested Countless Mesh Systems. Here Are the Routers I Recommend
-
Tech1 week ago
Amazon Prime Big Deal Days Is Next Week, but We Already Found 40 Early Deals
-
Tech1 week ago
Amazon is overhauling its devices to take on Apple in the AI era
-
Tech1 week ago
All Hail the Surprisingly Versatile Packing Cube! These Are Our Favorites
-
Tech6 days ago
Jony Ive Says He Wants His OpenAI Devices to ‘Make Us Happy’
-
Tech1 week ago
AI in an ‘industrial bubble’ but will benefit society: Bezos
-
Tech1 week ago
Combat Dry Indoor Winter Air With a New Humidifier
-
Business7 days ago
Investors are packing up; Pakistan must ask why | The Express Tribune