Udayavni Special

India can explore $82 bn export potential in 20 products in China: Report

PTI, Jan 3, 2020, 9:47 AM IST

Mumbai: India can explore an annual USD 82-billion export potential in twenty products, including electrical equipment and ferroalloys, in the world’s second-largest economy China, according to a report.

Indian exporters have a competitive advantage as far as these twenty goods are concerned.

Currently, India meets only 3.3 per cent or USD 2.7 billion of the total annual import demands of USD 82 billion for these 20 products in China.

India’s exports of these 20 products are worth around USD 15 billion to the world, which is 4.5 per cent of the country’s annual outward shipments.

These goods constituted about 17 per cent of India’s exports to China in 2018, according to the report by MVIRDC World Trade Centre Mumbai.

India can substantially reduce its trade deficit with China, which stood at USD 53.56 billion in 2018-19, by enhancing its market share for these products in that country, the report added.

Electrical equipment, tobacco, iron and steel, ferroalloys, parts of aircraft, engines and other auto-components, benzene, frozen boneless bovine meat are some of the product segment out of the 20 in the list.

“In order to realise this untapped export potential, India and China must exchange trade delegation with members from these identified sectors. We must also create awareness on this opportunity among India’s micro, small and medium enterprises producing these identified products,” MVIRDC World Trade Centre Mumbai Senior Director Rupa Naik said.

Increasing India’s market share for these products in China will add further momentum to the growing exports of India in this country, she added.

India’s overall exports to China grew 5.39 per cent to USD 11.57 billion in April-November 2019, even as our total exports to the world declined 2 per cent during this period.

The country’s overall trade deficit with China declined 5 per cent to USD 35.3 billion in the first eight months of the current financial year, compared to USD 37.3 billion in the year-ago period, the report added.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

IndiGo cautions candidates against fake job offers

Man without limbs undergoes rare bilateral hand transplant surgery in Mumbai hospital

COVID infection rate in decline? India’s R-value below 1 since September, say researchers

Idamalayar, Pampa dams in Kerala opened

Bengaluru: Special team formed to probe attack on police officer

Zomato sacks employee, apologises after staffer tells customer ‘Hindi is national language’

Uppinangady: 29-year-old killed in head-on collision 

Related Articles More

SEC report questions trading apps after GameStop frenzy

Sensex turns choppy as investors book profits; Nifty slips below 18,500

Stocks wobble as Wall Street’s momentum slows down

Bitcoin investing could get boost from exchange-traded fund

India, Israel agree to resume negotiations on FTA from next month


Specialties Of Kapila MalnadGidda cow Breed


Chintamani Crime news

Violation of Right to Information Act at Dandeli Urban Council

Criminal Case of officer who does not retain government property

Latest Additions

Bengaluru: Traffic police, public fix potholes; pics surface

IndiGo cautions candidates against fake job offers

Initiate action against those who incited violence using religion, B’desh PM tells home minister

U’khand rains: Kejriwal urges AAP workers to help people

Man without limbs undergoes rare bilateral hand transplant surgery in Mumbai hospital

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.