India shares with China list of 380 products for exports to bridge trade deficit
Team Udayavani, Apr 6, 2019, 3:39 PM IST
New Delhi: India has identified and shared with China a list of 380 products including horticulture, textiles, chemicals and pharmaceuticals as their shipments hold huge export potential in the neighbouring country, an official said.
Increasing exports of these products would help India narrow the widening trade deficit with China, which stood at $50.12 billion during April-February 2018-19. During the period, India’s exports to China grew by 28.61 per cent to about $15 billion, while imports contracted by 6.29 per cent to about $65 billion.
The official said that in the recent months, India’s exports of marine products, cotton, organic chemicals, grapes and plastics have increased significantly. Indian exporters face certain non-tariff measures in Chinese markets, which restrict exports to that country.
The commerce ministry on April 4 had called a meeting of stakeholders including export promotion councils and other government departments to discuss ways to increase exports to China.
India is taking several steps to promote shipments to China. Recently, it has managed to export agricultural goods such as non-basmati rice to China. India is seeking greater market access for various agricultural products, animal feeds, oil seeds, milk and milk products, pharmaceuticals in light of the potential of these products/services in the Chinese market
The official also said that next month Chinese Vice-Minister for General Administration of Customs of China (GACC) is expected to visit India to discuss trade-related issues. In that meeting, some more protocols for India’s exports are expected to be finalised, the official added.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Stock markets stage strong rebound after 4 days of slump, Sensex rallies 599 pts
PHF Leasing Limited raises $10 Mn through a mix of equity and debt
CCPA asks FSSAI to probe claim of Nestle adding sugar to baby products
Markets tank in early trade as Middle East tensions flare-up
Tesla shares tumble below $150 per share, giving up all gains made over the past year
MUST WATCH
Latest Additions
Injuries don’t define you: Mohammed Shami shares rehab update
Shivakumar desperately wants to become CM, says K’taka BJP chief Vijayendra
Scribe throws lapel microphone towards Sharad Pawar in Baramati; cops give clean chit
India delivers first batch of BrahMos missiles to Philippines
Air India cancels Dubai flights due to operational disruptions