Indias trade with China stands at $50.19 bn, deficit at $36.73 bn in Apr-Oct
The Dollar Business Bureau During the first seven months of 2017-18, the trade deficit with China stood at $36.73 billion against the $51.11 billion in the fiscal of 2016-17, Minister of State for Commerce & Industry CR Chaudhary informed the Parliament on Monday. During the period April to October, India’s bilateral trade with China stood at $50.19 billion as compared to $71.45 billion in the entire financial year of 2016-17, as per the provisional data for the period placed by Chaudhary in the Lok Sabha. “Increasing trade deficit with China can be attributed primarily to the fact that Chinese exports to India rely strongly on manufactured items to meet the demand of fast expanding sectors like telecom and power, while India's exports to ...
India's trade deficit with China decreases to $51 bn in 2016-17, Sitharaman
The Dollar Business Bureau The CIM, Nirmala Sitharaman in a reply to a question raised in the Parliament today said, “ India's trade deficit with China has marginally dipped to $51 billion in 2016-17 from $52.69 billion in the previous fiscal and efforts are being made to increase the overall exports by diversifying the trade basket.” She said that emphasis is being given to manufactured goods, resolution of market access issues, services and other non-trade barriers. "This is done through bilateral meetings and institutional dialogues. Indian exporters are encouraged to participate in major trade fairs in China to show-case Indian products," she said in a written reply to the Lok Sabha. The minister also listed out the countries with which the country’s trade ...
India-China talks to focus on reducing trade deficit
The Dollar Business Bureau Amid India’s mounting trade deficit with China, India is holding bilateral trade talks with China urging it to allow greater market access for several Indian products including buffalo meat. “Not just buffalo meat, but there are many other issues on which market access is not available, and we have been talking with them on every such item so that legitimate exports from India will have to find market access in China, and the work is going on,” Commerce Minister Nirmala Sitharaman said when replying to a query in Lok Sabha. Sitharaman met Chinese vice-minister for the ministry of finance and commerce Wang Shouwen and conveyed India’s concerns about the mounting bilateral trade deficit. Sitharaman underscored that China needs to find ...
India, China hold strategic dialogue
The Dollar Business Bureau India and China on Wednesday conducted a strategic dialogue to strengthen their bilateral relations. This is the first ever strategic dialogue between the two nations nearly 67 years after they established diplomatic relations, and the first ‘strategic dialogue meet’ after 30 bilateral dialogues that happened over the years. Many have labelled this visit by the Indian foreign secretary as a significant one albeit not as historic as Nehru’s visit in 1954 or Rajiv Gandhi’s visit in 1988 nor the recent visit by PM Modi in 2015, but significantly important and strategic enough for the world to sit up and notice. The foremost agenda of the foreign secretary is to try and understand China’s reluctance to support India’s membership ...
Indo-China border trade officially stops after closure of Nathula Pass
The Dollar Business Bureau The border trade between China and India through the Nathula Pass has been stopped officially with the closing of the Nathula Pass which was acting as a facilitator of exchange of goods between the countries. The information has been sourced from a Sikkim government press release which highlighted November 30 as the official date of closure of the pass. The event was marked by a formal closing function that was held at the Nathula Pass. The ceremony was attended by officials from the Department of Commerce and Industries and Central agencies such as Indian Customs, ITBP and Immigration and stake-holders. The border trade will be open in the next trading season starting May 1, 2017. Nathula is a mountain pass located in the ...
India-China financial dialogue postponed till next month
The Dollar Business Bureau The India-China financial dialogue, to be held in Beijing between Finance Minister Arun Jaitley and his Chinese counterpart Lou Jiwei next week, has been postponed till next month. The meeting was deferred as Department of Economic Affairs Secretary Shaktikanta Das was unable to attend the meeting. "Only Secretary, DEA's level Indo-China Dialogue has been postponed as he deferred his visit to deal with BREXIT-related issues back home," Ministry of Finance tweeted. Jaitley will, however, embark on a five-day visit to China to participate in the first annual meeting of the board of governors of the Asian Infrastructure Investment Bank (AIIB). The eighth round of India-China Financial Dialogue will now be held in July. The two countries have held seven rounds of ...
Industrial cooperation can benefit India, China
The Dollar Business Bureau Greater industrial cooperation can help mitigate distrust between Indians and Chinese, while directly benefitting their growth and ushering into a new world of globalisation, a Chinese daily reported on Thursday. "Industrial cooperation can help reduce distrust between Indians and the Chinese. The future direction of the Sino-Indian relationship depends on whether the nations' economic activities can alleviate their long-standing concerns," an article in the state-run Global Times said. The article stressed that industrial cooperation can directly profit the two neighbours’ economic growth and reduce their nationalist sentiments. It said the two neighbours should look at the big picture rather than get stuck on a disputed patch of land Referring to the recent visits of Apple CEO Tim Cook and Foxconn ...
"India to drive world growth for next 10 yrs"
PTI Amid concerns of a slowing global growth, India is a beacon of hope and has the potential to drive the world economy for the next 10 years, former Singapore prime minister Goh Chok Tong said today. "India is a hope for us. India is at a stage China was 10 years ago to amend slack in the economy," he said speaking at the Future of Asia Conference organised by Nikkei here. Finance Minister Arun Jaitley, who arrived here yesterday on a 6-day tour to help mobilise investment, attended the conference, but did not make any statement. He is scheduled to speak at the conference tomorrow. The former Singapore prime minister felt that India should take advantage as ...
