Page 11 - India China Trade

India's April-July finished steel imports from China at five-year high

In all, India imported 2 million metric tons of finished steel in the period, the highest since 2020 and up 23% from a year earlier

Everyone in Ladakh knows that China has taken our land: Rahul Gandhi

Raking up the border issue, Congress leader Rahul Gandhi on Friday said every individual in Ladakh knows that China has "taken away our land" and claimed that Prime Minister Narendra Modi's assertion that not an inch of land was taken away was absolutely false. The former Congress president's remarks come after Prime Minister Modi and Chinese President Xi Jinping held a conversation on Wednesday on the sidelines of the BRICS (Brazil, Russia, India, China, South Africa) summit in Johannesburg. The conversation was not a structured bilateral meeting and was an informal one. I visited the whole of Ladakh on my motorcycle over the past week...Ladakh is a strategic place and when I was at Pangong lake, one thing was clear that China had taken over thousands of kilometers of Indian land. Unfortunately, the prime minister during an opposition meeting makes a statement that not an inch of our land was taken away which is 'absolutely false'," he said addressing a public meeting here on the ..

India needs to balance ties with China to grow, says US biz lobby

Since 2020, Beijing and New Delhi have positioned thousands of troops and weaponry close to the 3,488 kilometer (2,167 miles) disputed Himalayan border after a clash

China expands number of countries for travel by its big-spending tourists

China has increased the number of countries that its big-spending tourists can visit by more than 70 following the lifting of its last COVID-19 travel restrictions. The decision comes as international flights to and from the country gradually return to their pre-pandemic levels. China implemented strict lockdowns and draconian travel controls within the country and closed its borders almost entirely after the virus was first detected in the central city of Wuhan in late 2019. Those restrictions began to be lifted late last year, but the government has been hesitant to resume issuing passports and allowing in foreign tourists, as well as giving its citizens the ability to travel abroad. The expanded options for travel began on Thursday. "The government agencies in charge will provide businesses in the tourism sector with the necessary guidance for the implementation," the Foreign Ministry said. At this moment, we would like to remind all outbound tourists to be well-prepared befor

India's anti-dumping duty impositions drop amid post Covid-19 shift

The Indian government's stance on anti-dumping duties has seen a decrease in the acceptance of recommendations from the DGTR, particularly concerning goods from China

Chinese technicians may get faster visas to India to help set up factories

Chinese technicians and engineers need to visit India to set up factories and machinery in the country and a faster visa could make this process smoother

PLI footprint in India-China trade

India's goods imports from China during FY23 touched $98.5 billion, at a growth rate of 4.2 per cent, while India's global imports grew at 16.1 per cent during this fiscal year

Exports saw sharp fall on decline in US and UAE share, shows govt data

Shipments to six of top 10 markets saw a decline in April

In the old tale of Kabuliwala, there is a South Asia trade mystery

India's business with its neighbourhood is stagnant though it offers better terms than China

China's share in India's import basket declines to 13.79% in FY23: Govt

China's share in India's import basket has declined to 13.79 per cent in 2022-23 from 15.43 per cent a year ago, with inbound shipments of major items like fertilisers and electronic goods coming from alternative markets, the Commerce Ministry said on Thursday. However, in absolute terms, the total imports from China increased to USD 98.51 billion during the financial year ended March against USD 94.57 billion in the previous fiscal. As per the latest trade data issued by the Commerce Ministry, India's overall imports increased by 17.38 per cent to USD 892.18 billion from USD 760.06 billion in FY 2021-22 (April-March). Meanwhile, India's exports to China fell to USD 15.32 billion in FY23 from USD 21.26 billion a year ago, showing a negative growth of nearly 28 per cent, the data showed. India's overall exports (Merchandise and Services combined) in FY 2022-23 (April-March) is estimated to exhibit a positive growth of 13.84 per cent to USD 770.18 billion from USD 676.53 billion in .

India has trade deficit with China in electronics, computer hardware

The major commodities in which India has a trade deficit with China include electronic components, computer hardware, telecom instruments, industrial machinery for dairy and organic chemicals, Parliament was informed on Wednesday. Some of the services in which India has a trade deficit with China include construction, telecommunication, computer and information services, maintenance and repair services, Minister of State for Commerce and Industry Anupriya Patel said in a written reply to the Lok Sabha. She said the commodities exhibiting trade deficit with China constituted 86.7 per cent of the total trade in 2014-15, which has reduced to 83.8 per cent of the total trade with China in 2021-22. "Similarly, the services exhibiting trade deficit with China contributed 30.3 per cent to the total trade with China in 2014, which has reduced to 18.5 per cent in 2019," she said. Replying to a separate question, she said India has signed 13 Free Trade Agreements (FTAs) with its trading ...

Chinese companies may need majority Indian partners to set up plants

Some global players are pushing for a 50-50 equity structure, pointing out that without such a split, most Chinese firms might not want to share their technology at all

India Inc must step up: EAM S Jaishankar on China trade imbalance

External Affairs Minister S Jaishankar on Thursday said the responsibility for the trade imbalance with China rests squarely on businesses as well, blaming Indian corporates for not developing the right sourcing arrangements. Speaking at the Asia Economic Dialogue here, Jaishankar said the government is doing its bit by bringing in policies like the thrust on Atmanirbhar Bharat and made it clear that the "massive external exposure" puts national security at threat. Terming the challenge posed by the trade imbalance with China as very serious and formidable, the career bureaucrat turned politician said the responsibility here is not just of the government, but it is an equal responsibility of businesses as well. "Indian corporates have not developed the kind of backwards (integration), vendor supplies, components and parts, ingredients and intermediates that should be supporting us," he said. With lots of people, including former RBI Governor Raghuram Rajan, asking India to focus on

Demand for affordable Indian generic Covid vaccines skyrocket in China

WHO issued a detailed document stating that the Indian vaccine against all variant-related Covid-19 diseases was 71% effective, with an efficacy of 90% against Kappa and 65% against Delta

India's trade with China risen by 50% despite aggression: Arvind Kejriwal

Delhi Chief Minister Arvind Kejriwal on Wednesday slammed the BJP-led Centre for maintaining trade relations with China despite its aggressive stance, and called for its boycott to send out a strong message. Addressing a Republic Day function organised by the Delhi government at Chhatrasal Stadium here, Kejriwal alleged that China is procuring more weapons to use against India with the very money it earns doing trade with us. "A leading newspaper today reported that China has occupied some of our land. This is worrisome for every Indian. Our soldiers are bravely facing China at the border and it is our duty to support them in this fight. "It is our duty to boycott China and send out a strong message," he said at the event. The Chief Minister asked the central government what action it took against China's incursions into Indian territory and allegedly even occupying some of our land. "On one hand China is occupying our land and on the other hand we are increasing our trade with ..

Despite Chinese aggression, India's trade with Beijing up by 50%: Kejriwal

Despite Chinese aggression, India's trade with Beijing has increased and that is not right, Delhi Chief Minister Arvind Kejriwal said in an apparent swipe at the BJP-led Centre. "We are purchasing items like slippers, figurines and mattresses from China. Why can not we manufacture these in India?" he posed while addressing a Republic Day celebration event at Chhatrasal Stadium here. Stressing that all these items can be manufactured in the country, Kejriwal said it will create jobs for youths and give a strong message to China. He claimed that according to reports China has "occupied" some of India's territory which is a cause of worry for every citizen. "Despite Chinese aggression, we have been increasing our trade with them. It increased by 50 per cent. We are making China richer. This is not right," he said. Kejriwal alleges that various state governments are being "harassed". In many states, university vice-chancellors were appointed by elected governments of the states but th

Regulatory, internal market barriers of China impact India's exports: GTRI

Regulatory and internal market barriers of China are some of the major impediments which impact India's exports to that country, economic think tank Global Trade Research Initiative (GTRI) said on Sunday. "India must take up all market access issues faced by its exporters with China on a priority basis. India may consider applying mirror regulations to imports from China," it said. China uses four significant barriers besides customs duties to regulate imports from countries like India and those barriers include regulatory, internal market, trade defense, and political, it said. "China stifle competitive imports from India through complex regulations," the GTRI said Quality and standards of products cannot be a problem as India exports to over 100 countries, including the US and Europe, GTRI said. Citing an example of the pharma sector, it said India imports 90 per cent of bulk drugs or APIs (active pharma ingredients) from China and allows easy access through a simple registratio

India-China trade at $135.98 bn in 2022. Trade deficit crosses $100 bn mark

This is the first time the trade deficit has crossed the $100 billion mark

NITI Aayog's Panagariya cautions against cutting trade ties with China

Amid demands for snapping trade ties with China for its transgressions on the border, former Niti Aayog Vice Chairman Arvind Panagariya has opined that cutting trade with Beijing at this juncture would amount to sacrificing India's potential economic growth. Instead, Panagariya suggested that India should try to enter into free trade agreements (FTA) with countries such as the UK and the European Union to expand its trade. "Engaging China in a trade war at this juncture will mean sacrificing a considerable part of our potential growth... purely on economic grounds, it will be unwise to take any action in response to it (transgressions on the border)," the eminent economist told PTI. Indian and Chinese troops clashed along the Line of Actual Control (LAC) in the Tawang sector of Arunachal Pradesh on December 9 and the face-off resulted in "minor injuries to a few personnel from both sides", according to the Indian Army. Panagariya, currently a professor of economics at Columbia ...

Centre develops new metrics for imports after reports of under-reporting

In November, media reports emerged showing a $12 billion mismatch in the Indian and Chinese trade figures between January and September