India cancels most-favoured nation status to Pakistan

New Delhi: India on Friday revoked the most-favoured nation (MFN) status to Pakistan in the aftermath of Pulwama terror attack, Finance Minister Arun Jaitley announced, as the country is considering punitive actions like significant hike in customs duties, port curbs and ban on goods imported from the neighbouring country. Withdrawal of the MFN status would significantly hit Pakistan's exports to India, which stood at $488.5 million (around Rs 3,482.3 crore) in 2017-18.