Page 9 - India China Trade

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'

China beats US to emerge as largest trading partner of India in FY24: GTRI

China has emerged as the largest trading partner of India with USD 118.4 billion two-way commerce in 2023-24, slightly edging past the US, according to the data of economic think tank GTRI. The bilateral trade between India and the US stood at USD 118.3 billion in 2023-24. Washington was the top trading partner of New Delhi during 2021-22 and 2022-23. The data showed that India's exports to China rose by 8.7 per cent to USD 16.67 billion in the last fiscal. The main sectors which recorded healthy growth in exports to that country include iron ore, cotton yarn/fabrics/madeups, handloom, spices, fruits and vegetables, plastic and linoleum. Imports from the neighbouring country increased by 3.24 per cent to USD 101.7 billion. On the other hand, exports to the US dipped by 1.32 per cent to USD 77.5 billion in 2023-24 as against USD 78.54 billion in 2022-23, while imports dipped by about 20 per cent to USD 40.8 billion, the data showed. The Global Trade Research Initiative (GTRI) said

India may permit Chinese electronic firms to invest on a select basis

The Indian govt might consider permitting certain Chinese investments in India, with each venture evaluated based on its individual merit

Putin announces plan to visit China in May, his first trip after poll win

Russian President Vladimir Putin said on Thursday he plans to visit China in May, in what could become the first foreign trip for the Russian leader after he extended his rule by six more years in an election that offered voters little real choice. Putin announced the plans for the visit at a congress of the Russian Union of Industrialists and Entrepreneurs in Moscow. He didn't say when exactly it would take place and didn't offer any other details. Putin's inauguration is scheduled for May 7, Russian lawmakers said earlier this week. Last month, the 71-year-old Russian leader secured his fifth term in office in a vote with no real opposition, extending his 24-year rule. Russia's growing economic and diplomatic isolation because of its war against Ukraine has made it increasingly reliant on China, its former rival for leadership of the Communist bloc during the Cold War. According to a recent US assessment, China has surged sales to Russia of machine tools, microelectronics and oth

China's Sinopec charts global expansion with refinery in India's backyard

India is also deepening its involvement in Sri Lanka's power sector with solar projects and grid connectivity

'Great positive progress' made to resolve border row with India, says China

China and India have made "great positive progress to resolve the border standoff, with both sides maintaining close communication, a senior foreign ministry official said here on Friday. The foreign ministry spokesperson Mao Ning's remarks were further elaboration on China's reaction to Prime Minister Narendra Modi's recent statement in which he said that for New Delhi, ties with Beijing are important and the "prolonged situation" at the borders should be addressed urgently. In an interview with Newsweek magazine, Prime Minister Modi expressed hope that through positive and constructive bilateral engagement at the diplomatic and military levels, the two countries will be able to restore and sustain peace and tranquillity at their borders. "About the border issue, I can tell you that China and India are remaining in close communication through diplomatic and military channels and great positive progress has been made," Chinese foreign ministry spokesperson Mao told a media briefing

Majority of commodities exported to China record positive growth in 2023

As many as 90 principal commodities like iron ore, telecom instruments and electronic components exported to China have recorded a positive growth in 2023 out of the total 161 such goods shipped to the neighbouring country, according to commerce ministry data. These 90 commodities account for 67.7 per cent of India's export basket to China, while 71 products that have registered a negative export growth in 2023 constitute 32.3 per cent, the data showed. There are four commodities level where India has improved its export to China by more than USD 100 million in 2023. They are iron ore (216.8 per cent to USD 3.33 billion in 2023), cotton yarn (542.6 per cent to USD 611.17 million in 2023), spices (19.4 per cent to USD 132.26 million in 2023), and processed minerals (174.19 per cent to USD 129 million in 2023). For another fifteen products, the improvement in exports is in the bracket of USD 10 -100 billion. These goods include marine products, iron and steel, telecom instruments, ..

'Sound and stable ties' serve common interests: China on PM Modi's comment

China on Thursday said that "sound and stable ties" serve the common interests of China and India as it reacted to Prime Minister Narendra Modi's remarks that for New Delhi, ties with Beijing are important and the prolonged situation at the borders should be addressed urgently. In an interview with Newsweek magazine, which described India's rise as "unstoppable", Prime Minister Modi expressed hope that through positive and constructive bilateral engagement at the diplomatic and military levels, the two countries will be able to restore and sustain peace and tranquillity at their borders. China has noted the remarks by the prime minister, Chinese foreign ministry spokesperson Mao Ning told a media briefing here when asked for her reaction to Modi's statement. We believe that sound and stable China, India relations serve the common interests of both sides and are conducive to peace and development of the region and beyond, she said. In his interview, which is the first to be given to

New EV policy: No restrictions on imports from any country, including China

Last month, India announced lowering import taxes on certain electric vehicles produced by carmakers who commit to invest at least $500 million and start domestic manufacturing within 3 years

Figure this: Discrepancy in India-China trade data is only getting worse

What China sends doesn't match India's records on imports, and the mismatch is in billions of dollars

Beijing may repeat 'baseless claims', Arunachal integral part of India: MEA

India on Thursday said Beijing may "repeat its baseless claims" as many times as it wants but that is not going to change New Delhi's position that Arunachal Pradesh "was, is and will always remain" an integral and inalienable part of the country. MEA Spokesperson Randhir Jaiswal said this during his weekly press briefing, in response to a query on China continuing to harp on its claim over Arunachal Pradesh. His comments came days after Chinese Foreign Ministry spokesman Lin Jian on Monday reiterated China's claim. "Our position on the matter, Arunachal Pradesh, has been made very clear, time and again. Recently also, we issued a statement in this regard. China may repeat its baseless claims as many times as they want, that is not going to change our position. Arunachal Pradesh was, is and will always remain an integral and inalienable part of India," he said. The Ministry of External Affairs (MEA) said on March 19 it had noted the comments made by the spokesperson of the Chinese

BS Manthan: 'India should chart own path to shed West's China-plus tag'

Say foreign companies only shifting incremental investments from China, not uprooting themselves.

Switzerland, UAE, China lead double digit imports growth in February

After growth in merchandise imports remained in negative territory for most of 2023, inbound shipments have turned positive for two consecutive months since January

India unlikely to match China's past 8-10% growth: Morgan Stanley

Even so, Morgan Stanley remains upbeat about India's prospects, and said in a recent report that the current expansion resembles that of the mid-2000s boom, fueled by rising investment