Their trade relationship was damaged in 2008, following the Mumbai attacks that killed 165 people.
India suspected that Pakistan-based militants were behind the attacks.
But the Indian commerce minister said that he and his Pakistani counterpart were committed to ease trade barriers and to promote business travel.
It is the first time in 35 years that a Pakistani commerce minister has led a business deal to India.
“Both ministers noted with satisfaction that India and Pakistana re entering a new phase of full normalisation of bilateral trade relations,” a statement released by the two sides said.