Page 7 - India China Trade

Govt imposes anti-dumping duty on chemical from China, Korea, Thailand

India has imposed an anti-dumping duty of up to USD 557 per tonne on a chemical used mainly in the adhesive industry from China, Korea, and Thailand for five years to guard domestic players from cheap imports from these nations. The duty was imposed as the chemical - Epichlorohydrin - was exported to India from these countries at below-normal prices. "The anti-dumping duty imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier)...," the department of revenue said in a notification. The levy is imposed following recommendations for the same by the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR). Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of Geneva-based World Trade Organization (WTO). The duty is aimed at ensuri

Govt imposes anti-dumping duty on five Chinese products for 5 years

India has imposed anti-dumping duty on five Chinese goods, including glass mirror and cellophane transparent film, for five years to guard domestic players from cheap imports from the neighbouring country. These duties were imposed as these products -- isopropyl alcohol, sulphur black, cellophane transparent film, thermoplastic polyurethane, unframed glass mirror -- were exported to India from China at below normal prices. In five separate notifications, the Central Board of Indirect Taxes and Customs, Department of Revenue, said that the duty imposed "shall be levied for a period of five years". The government has imposed the USD 82 per tonne and USD 217 per tonne duty on different Chinese firms on isopropyl alcohol, which has medical and industrial uses. It is also used as an antiseptic for skin and instrumentation, and hand sanitiser. On imports of sulphur black, whose total imports in 2023-24 was USD 4.3 million, a duty of up to USD 389 per tonne has been imposed. It is used fo

Thaw in Indo-China ties: How bilateral trade fared in last decade

China has been among India's top two trade partners for close to over a decade, although New Delhi's import dependency on Beijing has been high as compared to exports

Tata Hitachi expresses concerns over Chinese imports, seeks govt support

Construction equipment major Tata Hitachi on Wednesday expressed concerns over the growing penetration of Chinese imports in the Indian market, capping the growth trajectory of domestic companies despite healthy market conditions. The company urged the government to take measures to encourage companies that have invested heavily in 'Atmanirbhar Bharat' and 'Make in India' initiatives, by countering "unfair" competition from Chinese imports. Tata Hitachi Managing Director Sandeep Singh stated that the market share of Chinese excavators in India has surged to 20-22 per cent, a concerning trend given the country's focus on self-reliance and domestic manufacturing. "The Chinese penetration in the excavators segment has intensified in recent months, reaching about 20-22 per cent. This is very high. Five years back, it was not even 10 per cent," Singh told reporters on the sidelines of the CII-organised IMME and Global Mining Summit 2024. The construction equipment business in India is .

Better trade ties expected as India, China achieve LAC breakthrough

India reaching an agreement with China on patrolling along the LAC in eastern Ladakh is a positive development as it would further create a friendly environment for trade ties between the two countries, say exporters. They added that the move would also provide comfort to Indian businessmen doing business with China. "Present disengagement will give mental comfort to Indian businessmen doing business with China. The Department of Commerce should identify 10 top imports from China and work on them to cut the imports," Mumbai-based exporter and CMD Technocraft Industries Saran Kumar Saraf said. He has a unit in China. India on Monday announced it has reached an agreement with China on patrolling along the Line of Actual Control (LAC) in eastern Ladakh. This is seen as a major breakthrough in ending the over four-year-long military standoff ahead of a likely meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Russia this week. Federation of Indian Export .

India-China LAC agreement explained: Does it resolve dispute and what next?

Once implemented, India-China border pact could see Indian Army return to patrolling along India's perception of the LAC in Depsang Plains and Demchok

India and China should join hands to grow together: Justin Yifu Lin

At this stage you have an abundant supply of young laborers. And competitively, the wage rate in India is less than high medium income countries

China emerges as India's top import source during Apr-Sep of FY24

China has emerged as India's top import source with USD 56.29 billion worth of inbound shipments during the April-September period of this fiscal, according to the commerce ministry data. During the period, the US emerged as the top export destination for the country with outbound shipments increasing by 5.62 per cent to USD 40.38 billion. The imports from China rose by 11.5 per cent during the first half of this fiscal. The imports stood at USD 50.48 billion during April-September 2023. During the period, the top 10 import sources of India were China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the data showed. Imports from Russia rose to USD 32.18 billion during April-September this fiscal from USD 30.43 billion a year ago. Similarly, the inbound shipments from the UAE rose to USD 31.46 billion from USD 20.70 billion in the first half of the last fiscal. During the period, the top 10 export destinations of the country were the US, t

'People responsible for China's influence in Indian industry defending it'

At a time when the entire world recognises that China is a non-transparent and opaque economy, some people, possibly responsible for its growing influence in the India industry, are choosing to continue to praise or defend the China story, Commerce and Industry Minister Piyush Goyal said on Thursday. Slamming the previous Congress-led government, he said it is a matter of "shame" that India allowed substandard and opaquely-priced Chinese goods to flood the Indian markets and kill Indian manufacturing. "As regards China, it is very sad that some people, possibly responsible for the growing influence of China in the India industry, are choosing to continue to praise or defend the China story, whereas the whole world today recognises that China is a non-transparent and opaque economy," Goyal told Indian journalists at a news conference here. He was responding to a question on recent remarks by Leader of Opposition in the Lok Sabha Rahul Gandhi during his US trip last month, alleging th

India's manufacturing incentives progress amid efforts to cut China imports

Incentives have resulted in production worth about Rs 11 trillion ($131.6 billion) and nearly one million jobs over four years, Amardeep Singh Bhatia said

India's finished steel imports from China hit 7-year high in April-August

China was the largest exporter of finished steel to India during this period, followed by South Korea and Japan, primarily shipping stainless steel, hot-rolled coil steel, galvanised sheets, plates

India becomes 6th largest market in MSCI ACWI, tops emerging markets list

China's weight has fallen by half since peaking in early 2021, while India's has more than doubled during this period

'India's dependence on Chinese imports for MSME goods has been declining'

India's reliance on imports of MSME goods such as articles of leather, toys, and musical instruments from China is declining steadily, reflecting the country's efforts to diversify import sources and strengthen domestic production capabilities, an official said on Monday. On the other hand, dependency on imports of these goods from China by other countries like Brazil is increasing. Citing data, the official said that the concentration of musical instrument imports from China has decreased from 77.58 per cent in 2013 to 51.51 per cent in 2023. The share of imports of essential oils, cosmetics, and toilet preparations from China has also declined from 16.33 per cent in 2013 to 11.86 per cent in 2023. Similarly, the inbound shipments of toys and games from the neighbouring country have dipped from 76.7 per cent in 2013 to 70.97 per cent in 2023. "India's trend of reducing its reliance on Chinese imports, particularly in categories like articles of leather, ceramic products, toys, an

Given state of ties, Chinese investments need to be scrutinised: Jaishankar

Asserting that India has a "special China problem" which is over and above the world's "general China problem", External Affairs Minister S Jaishankar said Saturday the border and the state of relations with the country call for investments from there be scrutinised. Jaishankar said that if people are complaining of trade deficit with China and "we are too", it is because decades ago, "we consciously overlooked the nature of Chinese production and the advantages which they enjoyed in a system where they got a level playing field with all the advantages they brought to bed". "China in many ways is a unique problem because it is a unique polity, it is a unique economy. Unless one tries to grasp that uniqueness and understand it, the judgements, the conclusions and the policy prescriptions flowing out of it can be problematic," he said at the ET World Leaders Forum here during a session titled 'New India's Risks, Reforms and Responsibilities'. "There is a general China problem. We are

US top trading partner, China trade deficit highest in Jan-Jun 2024: GTRI

The US has emerged as India's top trading partner during January-June this year, while the country has recorded its highest trade deficit of USD 41.6 billion with China during the period, according to think tank GTRI. It also said the country's merchandise exports rose 5.41 per cent to USD 230.51 billion during the first of 2024. "China topped the list with a substantial trade deficit of USD 41.6 billion, as exports to China were USD 8.5 billion, while imports reached USD 50.1 billion during January-June 2024," it added. The data analysis for the first half of this calendar year by the Global Trade Research Initiative (GTRI) showed India exports goods to 239 countries and out of these, 126 countries showed positive growth in exports. These nations account for 75.3 per cent of India's total exports. Major countries with increased exports include the USA, UAE, Netherlands, Singapore, and China. However, exports declined in 98 countries, which account for 24.6 per cent of India's ...

Imports from China up 13% to $10.2 bn, exports dip 9.44% to $1.5 bn in July

India's exports to China dipped by 9.44 per cent to USD 1.05 billion, while imports rose by 13.05 per cent to USD 10.28 billion in July, according to the commerce ministry data. Cumulatively, during April-July this fiscal, exports to the neighbouring country also dipped by 4.54 per cent to USD 4.8 billion, while imports grew 9.66 per cent to USD 35.85 billion, leaving a trade deficit of USD 31.31 billion, the data showed. The country's exports also contracted to the UK, Germany, South Africa, Malaysia, France, Italy, Australia, Nepal, Brazil, Belgium, Turkey, and Indonesia during the month. However, the outbound shipments recorded growth in the US, UAE, the Netherlands, Singapore, Saudi Arabia, Bangladesh, and Mexico in July. According to the data, India's exports to the US rose 3.15 per cent to USD 6.55 billion, while imports increased by 1.43 per cent to USD 3.71 billion in July. Cumulatively, during April-July 2024-25, exports to the US increased 9 per cent to USD 27.44 billion

India poised to narrow gap with China in emerging-market stock anchor

A higher weighting for India will position it to become the new anchor for emerging market equities

'Caught napping at wheels': Cong slams govt over trade deficit with China

The Congress on Saturday hit out at the Centre over the issue of trade deficit with China and said that while other countries around the world had taken measures to restrict uncontrolled Chinese imports, "our government has been caught napping at the wheels". Congress general secretary in-charge communications Jairam Ramesh said the data revealed by the government in the Rajya Sabha shows that India's trade deficit with China has surged by about 16% over the last two years from USD 73,306.2 million in FY22 to USD 85,079.03 million in FY24. "Governments across the world are taking note of China's industrial overcapacity and its dumping of goods overseas. However, unlike most governments that have taken proactive measures to restrict uncontrolled Chinese imports, our government has been caught napping at the wheels," Ramesh said in a post on X. "Our domestic industries are being decimated and shutting down, unable to compete with the onslaught of cheap Chinese goods," the Congress ...

Chinese dependence

India has difficult choices

China begins atomospheric observation experiment in Mt Everest region

China has begun an observation experiment on land-atmosphere interactions in the Mount Everest Region in Tibet to study the interaction between the land surface and the atmosphere, a crucial component of ecological and climate systems. A research team from the Aerospace Information Research Institute under the Chinese Academy of Sciences will conduct the observational experiment using unmanned aerial platforms at a site on the northern side of Mount Everest, called Qomolangma in Tibet, situated at an average altitude of approximately 4,200 metres (15,960 feet). In the Mount Qomolangma region, land-atmosphere interactions not only affect the climate of the Qinghai-Xizang Plateau and its surrounding areas but also have the potential to influence the global climate through complex climate feedback mechanisms and atmospheric circulation, said Jia Li, a researcher at the Institute. Studying the Tibetan Plateau becomes imperative given the exponentially changing climatic conditions leadin