Page 8 - India China Trade

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

India shuns China's calls to resume flights after 4 years, say officials

India-China relations have been tense since the biggest military confrontation in decades on their disputed Himalayan border

Vivo to open India's largest smartphone plant in Greater Noida next month

The facility in Greater Noida boasts an annual production capacity of 120 million devices and has been established with an investment exceeding Rs 3,000 crore

UK overtakes China as India's fourth-largest export market in May

Exports to the European nation grew by a third to $1.37 billion in May. While the disaggregated data for the month of May wasn't immediately available

Traders demand resumption of border trade with China through Lipulekh pass

Indian traders involved in border trade with China through the Lipulekh pass in Pithoragarh district since 1992, have requested the central government to take up the issue of resumption of border trade through this route with Beijing. The trade route was closed rather suddenly after the outbreak of the Covid-19 pandemic in 2019, forcing Indian traders to return from the Taklakot mart in Tibet leaving behind their woollen products. Five years have passed but the route has not been opened, an organisation of border traders in Dharchula said. The traders who belong to the Bhotia tribe started to raise their demand for reopening of the trade route through Lipulekh after China recently began the process of implementing a pact, in which it had agreed to open all 14 trade passes with Nepal. The implementation of the agreement inked by China and Nepal in December, 2022 began on May 25 this year, when China opened Piangi pass situated in Dolpa district of eastern Nepal, president of Bharat

'Part of diplomatic business': US on China's objection to Modi-Lai exchange

Amid China's protest over the exchange of greetings between Prime Minister Narendra Modi and Taiwanese President Lai Ching-te, the US State Department said such congratulatory messages between two foreign leaders are a part of diplomatic business. I would say that such congratulatory messages are the normal course of diplomatic business," State Department Spokesperson Matthew Miller told reporters on Thursday at his daily news conference. He was responding to a question on China protesting over Modi's comment that he looked forward to having closer ties with Taiwan after his victory in the just concluded Lok Sabha elections. Earlier on Wednesday, Modi's remarks came in response to a congratulatory message from Taiwan President Lai Ching-te on his election victory. Lai, elected as Taiwan's President last month, in a message posted on X said: My sincere congratulations to Prime Minister @narendramodi on his election victory. We look forward to enhancing the fast-growing #Taiwan-#Indi

The Sino-American trade war benefits China's competitors

India offers a prime example. It has successfully attracted several Western firms exiting China since launching its 'China Plus One' strategy in 2014

West prefers India over China, economic prospects robust: UN expert

He further said the oil price and special import arrangements that India has with Russia is also 'helping India tremendously in terms of keeping its import costs down'