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 ...
No border trading centres without Chinas consent
The Dollar Business Bureau The Indian government has confirmed that no trading centres will be set up in Arunachal Pradesh at the Chinese border without a consent from Beijing. The Minister of State for Home Kiren Rijiju said that China should mutually agree to setup 'border haats' in Arunachal Pradesh. “Why can't India set up 'border haats' along the Sino-Indian border in Arunachal Pradesh?” Ninong Ering, Congress MP from the state recently questioned the government. In a response to the query, Rijiju commented that trade is not possible in 'border haat' without a collaboration from the other country in this case, China. At present, there is only one border trading post with China at Nathu La in Sikkim. Rijiju further said that India ...
India unlikely to place restrictions on trade across LOC
Vanita Peter D’souza | The Dollar Business India is unlikely to place any restrictions on trade along the India-Pakistan’s Line of Control (LoC) as no incidence of adulteration has been reported in the recent years. Nirmala Sitharaman, Commerce & Industry Minister, Government of India, informed the Parliament yesterday, “No in incidence of adulteration which adversely affected trade has come to the notice of Government.” The LoC trade in India is usually the trade between India’s Jammu & Kashmir and Pakistan Occupied Kashmir (POK) which is not counted as trade with Pakistan. As a part of the Government of India’s Confidence Building Measures (CBMs), a list of essential items are allowed for trade at zero duty. India also has Trade Facilitation ...
