Page 8 - India China Trade

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

Cheap Chinese exports prompt 'protectionist' response from Southeast Asia

Economic discontent towards China has intensified in Southeast Asia as Chinese companies with surplus inventory are selling goods at give-away prices

India, China to boost ties, bridge gaps between countries: Chinese diplomat

Chinese Consul General in Mumbai Kong Xianhua has said his country is ready to work with India to bridge the gap between the people of the two neighbours, recalling the Indian help during the Sino-Japanese war. The senior diplomat on Thursday visited the Indian Coast Guard Headquarters (West) to express gratitude to the maritime security agency for saving Chinese mariners over the past two years, an official statement said. Kong met Inspector General Bhisham Sharma, Commander of Indian Coast Guard (West), and said China is ready to work with India friends to bridge the gap between the people of the two countries and strengthen friendship. ... our two peoples will walk together like brothers and sisters, he said. The Indian Coast Guard and Indian Navy have jointly carried out a successful rescue mission to evacuate a Chinese mariner who was critically injured and suffering heavy blood loss on July 24, the statement said. The Indian Coast Guard responded immediately to the medical .

India has highest trade deficit with China, gap narrowing: Piyush Goyal

India has the highest trade deficit with China in goods but the gap expanded at a lower pace during 2014-15 to 2023-24 as compared to the previous 10 years, Commerce and Industry Minister Piyush Goyal said on Friday. In a written reply to a question in the Rajya Sabha, the minister said that the trade deficit has increased by compound annual growth rate (CAGR) of 42.85 per cent during 2004-05 to 2013-14, while the same has come down to 6.45 per cent during 2014-15 to 2023-24 which clearly indicates the success of the government in containing rate of growth of excessive import growth from China during the past ten years. It may also be noted that from 2004-05 to 2013-14, trade deficit grew by approximately 24.8 times while it grew only by 1.75 times from 2014-15 to 2023-24, he said. "India has the highest merchandise trade deficit with China," Goyal said. India's exports to China in 2023-24 stood at USD 16.65 billion, while imports aggregated at USD 101.75 billion, leaving a trade .

China at the crossroads

Geopolitical equations as seen by China do not, as yet, seem to justify a more accommodating posture towards India

India likely to get coking coal from Mongolia on Trial basis in July

The supplies would come to India via Chinese ports, but Indian authorities do not think New Delhi should entirely rely on China for steady supplies of coking coal from Mongolia, the sources said

India initiates anti-dumping probe into import of Chinese lift guide rails

India has initiated an anti-dumping probe into the import of Chinese lift guide rails following a complaint by a domestic player. The duty is aimed at protecting the domestic industry from cheap imports. The commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) is probing the alleged dumping of 'T-Shaped Elevator/Lift Guide Rails and Counterweight Guide Rails' from China. Savera India Riding Systems Company has filed an application for the initiation of an anti-dumping investigation on the imports of this product from China. The applicant has alleged that material injury is being caused to the domestic industry due to the alleged dumped imports and has requested for the imposition of anti-dumping duties. "On the basis of the duly substantiated written application submitted by the domestic industry and having reached satisfaction based on the prima facie evidence submitted by the industry concerning the dumping of the product...the Authority, hereby, ..

India steel, trade ministries in talks over rising Chinese imports: Report

India is monitoring cheap Chinese imports, the source said, as China continues to be top exporter of steel to the Asia's third-largest economy in recent months

Time for proper strategy to decrease dependence on China: Jairam Ramesh

Congress General Secretary Jairam Ramesh alleged that the conglomerate company has reportedly selected eight Chinese companies to help its solar projects

India imposes anti-dumping duties on three Chinese products

India on Thursday imposed anti-dumping duties on three Chinese products including hydraulic rock breaker with an aim to protect domestic players from cheap imports. These duties were imposed following a recommendation by the commerce ministry's directorate general of trade remedies (DGTR), which has concluded in its probe that dumping of these goods are impacting domestic industry. The DGTR held investigations after complaints were filed by domestic players on the dumping of these goods. The department of revenue has notified these duties in three separate notifications. On hydraulic rock breakers, the duty ranged between 4.55 per cent and 162.5 per cent of CIF (cost, insurance, freight) value in US dollars. The duty was also imposed on these goods coming from Korea. These breakers are used in the construction and mining industry for carrying out demolition, excavation, mining and boulder breaking activities. "The anti-dumping duty imposed (on these breakers) ...shall be effectiv

CII says reducing dependence on China 'critical' for electronics industry

It recommended the government to come up with revised electronic components production-linked incentive schemes with higher incentives in the range of 35-40 per cent to reduce dependence on imports

Best of BS Opinion: Focus on performance, Tapping the wind and more

Here is the best of Business Standard's opinion pieces for today

When trade barriers are justified

In one rare situation, there is a case for some protectionism against imports from China

Rising imports from China powering India's electronics production

Other countries such as Korea and Taiwan combined have seen their imports hit $4.5 billion in FY24 but they are still half of China and Hong Kong combined