India is optimistic that Pakistan would soon reciprocate by giving it the most favoured nation status, which would lead to a "win-win" situation for both countries.

"One can only hope that better sense will prevail and Pakistan will see the benefits in extending MFN to India," External Affairs Minister Yashwant Sinha told PTI.

In denying MFN status to India and imposing curbs, Pakistan is not only violating the World Trade Organisation and SAARC charters, it is also abusing the fact that India has not withdrawn MFN status from Islamabad, he said.

India granted MFN to Pakistan in 1995-96, while Pakistan has not extended the normal WTO rights or the MFN status to India, though it has maintained a "permissible list" of 600 items that may be legally imported from New Delhi.

About Indo-Pakistan Chamber of Commerce and Industry's submission of five to six recommendations, including relaxing visa norms and removal of other trade barriers, Sinha said the government would look into all these recommendations in "totality".