Trade between the two countries during April-July 2004 increased to $186 million as against $64 million in the year-ago period, the study said, adding there was huge potential for the bilateral trade to grow.
"India's export to Pakistan in April-July 2004 has shown a record 328 per cent increase, having gone up to $167 million from $39 million in the year-ago period," Assocham president M K Sanghi said in a statement.
"The study recommends extensive diversification of the existing trade basket of India and Pakistan to achieve the projected 10 billion mark by 2010," he added.
In the last five years, the imports from Pakistan mainly constituted of fruits, spices, leather, textiles, yarn, wool, raw and made-up articles.
Assocham also said India's exports to Pakistan accounted for 8.3 per cent of its total exports to the SAARC region, while 24.1 per cent of its total imports from SAARC region were from Pakistan.
In 2003-04, while Indo-Pak trade stood at $345 million, India's exports to Bangladesh and Sri Lanka alone were $1,650 million and $1,324 million respectively.
The industry body also suggested that Pakistan should grant most favoured nation status to India and the "two countries should create an atmosphere of peace to boost trade."
