Aiming to bridge trade deficit gap, India has sought greater market access for exporting its products to China in sectors such as IT, pharmaceuticals and bovine meat, Parliament was informed today.
At present, India's trade deficit with China has widened to USD 37 billion.
"India has consistently sought greater market access for exports to China, especially in sectors such as IT services, pharmaceuticals and agriculture including bovine meat," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
With regard to imports from India, the country has also sought simplification and greater transparency in China's procedures relating to registration, inspection and approvals, Sitharaman said.
She said in order to boost export and maintain balance of trade with India's trade partners, government has taken a number of measures.
The steps include identification of specific products with export potential, actively taking up issues relating to tariff and non-tariff barriers in bilateral meetings and measures to support exports through various incentive schemes.
Ways to reduce trade deficit and increase Chinese investments in India are expected to be discussed during the visit of Prime Minister Narendra Modi to China this month.
Replying to a separate question, the minister said India's iron and steel imports from China increased to Rs 15,534.84 crore during April-February 2015 as against Rs 5,921.24 crore.
The commerce minister has recommended anti-dumping duty on imports of Chinese hot rolled steel flat products.
"The matter is under consideration of Department of Revenue," she added.
