SME Times News Bureau | 07 Feb, 2020
Minister of Commerce and Industry Piyush Goyal on
Friday said that India’s exports to China increased from USD 13.33 billion in
2017-18 to USD 16.75 billion in 2018-19.
India’s trade with China decreased from USD 89.71
billion in 2017-18 to USD 87.07 billion in 2018-19. During this period, India’s
imports from China declined from USD 76.38 billion in 2017-18 to USD 70.32
billion in 2018-19, and our exports grew from USD 13.33 billion in 2017-18 to
USD 16.75 billion in 2018-19. As a result, India’s trade deficit with
China reduced from USD 63.05 billion to USD 53.57 billion in the said period,
he added.
However, there are some reports of some goods of
Chinese origin coming into India from other countries like Singapore and Hong
Kong, on which field formations have been appropriately sensitized, the
minister said.
As per the data provided by DGCIS, India’s
trade with China decreased from USD 89.71 billion in 2017-18 to USD 87.07
billion in 2018-19. During this period, India’s imports from China declined
from USD 76.38 billion in 2017-18 to USD 70.32 billion in 2018-19, and our
exports grew from USD 13.33 billion in 2017-18 to USD 16.75 billion in
2018-19.
As a result, India’s trade deficit with China
reduced from USD 63.05 billion to USD 53.57 billion in the said period.
However, there are some reports of some goods of
Chinese origin coming into India from other countries like Singapore and Hong
Kong, on which field formations have been appropriately sensitized.
The Government of India has been consistently
making efforts for achieving a more balanced trade with China in all our
official engagements with the Chinese Government, requesting them to lower
trade barriers for Indian exports to China.
Various protocols have been signed to facilitate
export of Indian rice, rapeseed meal, tobacco and fishmeal / fish oil, and
chilli meal from India to China. A workshop was jointly conducted by National
Medical Products Administration China, and Central Drugs Standard Control
Organisation India, to train Indian Pharma exporters on the updated regulatory
practices of China, on 21st June 2019, at Shanghai, China.
The Government of India has also taken various
measures to extend support to exporters by facilitating Buyers Seller Meets
between potential Chinese importers and Indian exporters to increase exports.
In addition, Indian exporters are encouraged to participate in major trade
fairs in China to showcase Indian products.