Free Press Journal

India’s raises mkt access issue with China


Jaipur: India today raised the problems faced by domestic business in accessing markets in China with which the country has a trade deficit of USD 37 billion. In a bilateral meeting between Commerce and Industry Minister Nirmala Sitharaman and visiting Chinese Vice Minister of Commerce Gao Yan here several other trade related matters were also discussed.

“The ministers discussed various trade-related issues. The Indian minister raised the issue of market access on which the Chinese minister have conveyed that Chinese government has instructed their provinces to encourage imports from India,” a top government official said.

Sitharaman and Gao Yan are here for CII’s Partnership meet.

The bilateral trade in 2013-14, stood at USD 65.85 billion. The deficit during 2013-14 was USD 36.22 billion.

India’s main items of export to China include petroleum products, gems and jewellery, transport equipment, other raw materials and machinery. Its imports include electrical machinery and equipment, mechanical machinery and appliances, project goods and organic chemicals.

Recently, India and China had signed an MoU on cooperation on industrial parks aimed at attracting Chinese investments.

The official said Sitharaman met several trade ministers of other countries including Australia, Malaysia and Kuwait and deliberated upon ways to further boost trade and economic ties.

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