Page 11 - India China Trade

China mysterious disease outbreak: Indian exporters fear likely impact

To compound the issue, China, the world's second-largest economy, is already slowing down and grappling with a crisis in its real estate market

ASEAN wants India to join RCEP for greater market access: Secretary-General

ASEAN Secretary-General Dr Kao Kim Hourn has said that the 10-member bloc of the Southeast Asian countries wants India to join the landmark Regional Comprehensive Economic Partnership (RCEP) for greater market access as he asserted that all partners stand to gain from the inclusive, open and rule-based trade pact. Dr Kao also said that India and ASEAN have been working together across different sectors - from space to investment, to tourism, to the defence sector and counter-terrorism, among others - and advocated expanding such cooperation in new sectors. Talking to a select group of Indian journalists here on Monday evening, Dr Kao said joining the Regional Comprehensive Economic Partnership (RCEP) would benefit India as the agreement would provide greater market access. He added that all partners will gain from the inclusive, open and rule-based trade pact. The RCEP is a free trade area (FTA) consisting of 10 ASEAN members (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapo

NITI Aayog to develop action plan to bridge trade deficit with China

Government think tank NITI Aayog has initiated a study to develop a comprehensive action plan to bridge India's trade deficit with China over time and align trading strategies with emerging geopolitical situation and potential risks to safeguard supply chains. The Aayog has invited bids from consultants to lead the two studies in areas of reducing trade gap with China and boosting local manufacturing. The move also comes against the backdrop of simmering tensions between India and China since the Galwan clash in June 2020. "The centrality of China to lndia's supply chain in certain industries raises dependency and vulnerability of the lndian supply chains and production networks particularly during crisis situations such as the COVID-I9 and geopolitical conflicts. "The study would aim to develop a comprehensive action plan to bridge the trade deficit over time and align trading strategies with emerging geopolitical situation and potential risks to safeguard supply chains," the Aayo

NITI Aayog working on plan to reduce reliance on China for supply chains

A senior government official was quoted as saying that the Aayog will bolster its policy recommendations on tariff and non-tariff barriers

PLI scheme effect? Bulk drug imports from China slow, shows data

Experts say scheme to boost local manufacturing will take 5-7 years to show tangible results

Canon begins selling new chip machines to rival world's best by ASML

Canon's machinery may also add a new front in the US-China trade war, as the import of EUV machines into China is prohibited by trade sanctions

China's economic woes deepen, advisors suggest more infrastructure spending

Advisers calling for immediate stimulus argue the central government's low debt means it can shoulder the burden with municipalities to finance infrastructure

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