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Chinese imports increase to US$76.38bn in 2017-18

India slaps duties on 99 items

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India slaps duties on 99 items

 

FIEO.

 

India’s imports from China surged to US$76.38 billion in 2017-18 from 2016-17’s US$61.28 billion, Minister of State of Commerce and Industry, C. R. Chaudhary, told Lok Sabha on 4 Feb 2019.

It was US$53.88 billion in April-Dec 2018.

With imports increasing, India has imposed anti-dumping duties on 99 items as of 28 Jan 2019, he added in note to parliament.

Comparatively, imports had slightly slowed down to US$61.28 billion in 2016-17 from US$61.71 billion in 2015-16.

The Indian Government has been taking continuous and sustained steps to bridge trade deficit by lowering the trade barriers for Indian exports to China.

During the 11th session of India-China Joint Group on Economic Relations held in New Delhi on 26 March 2018, the Trade Ministers of two countries agreed to increasing bilateral trade between the two countries in a balanced and more sustainable manner.

Follow on meetings were held with Chinese counterparts as a part of ongoing efforts to seek market access for Indian agricultural products such as animal feeds, oil seeds, milk and milk products, pharmaceutical products. He highlighted the potential of these products/services in the Chinese market.

Also protocols have been signed to facilitate export of Indian rice, rapeseed meal, fishmeal, fish oil and tobacco leaves from India to China.

The Indian Government has been taking continuous and sustained steps to bridge trade deficit by lowering the trade barriers for Indian exports to China.

During the 11th session of India-China Joint Group on Economic Relations(JEG) held in New Delhi on 26 March 2018, the Trade Ministers of two countries agreed to increasing bilateral trade between the two countries in a balanced and more sustainable manner.

Follow on meetings were held with Chinese counterparts as a part of ongoing efforts to seek market access for Indian agricultural products such as animal feeds, oil seeds, milk and milk products, pharmaceutical products. He highlighted the potential of these products/services in the Chinese market.

Also, protocols have been signed to facilitate export of Indian rice, rapeseed meal, fishmeal, fish oil and tobacco leaves from India to China. fiinews.com

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