Page 2 - India China Trade

India's steel imports from China hit record high, latest data shows

China, the world's biggest steel producer, shipped 1.7 million metric tons of finished steel to India during April-October, a 35.4 per cent increase year-on-year, the data showed

Apple taps over 40 Indian companies for supply chain as China ties strain

Apple has partnered with over 40 Indian firms, including Dixon, HCLTech, and Wipro, to strengthen its local supply chain as Chinese partners face legal and tax challenges in India

Initiative to expedite visas of Chinese workers helping PLI firms: Official

The government's initiative to expedite visas of Chinese technicians, whose expertise is required in Indian manufacturing firms in the PLI sector, is providing relief to such companies, a senior government official said on Wednesday. Earlier lot of firms used to flag the issue of delay in getting visas for Chinese technicians, who are required for works like installation or repair of certain machines, besides training workers in India. "Now that pendency has come down. Lot of improvement is there. There is a relief in this for those companies. The Ministry of Home Affairs has taken action pro-actively. In the last two months, things have improved a lot," the official said. A portal to facilitate these business visas was started to streamline the process. The PLI (production linked incentive scheme) scheme was announced in 2021 for 14 sectors, including telecommunication, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, ...

Jaishankar, China FM agree to resume boundary talks, discuss direct flights

India and China to resume special representative-level talks on boundary issues, focus on stabilising ties and direct flights

We should implement Modi-Xi plan for better ties: China's FM to Jaishankar

India and China should implement the important consensus reached by Prime Minister Narendra Modi and President Xi Jinping at their summit in Russia, Chinese Foreign Minister Wang Yi said in his meeting with External Affairs Minister S Jaishankar on the sidelines of G20 meeting at Rio De Janeiro. Wang, also a member of the Political Bureau of the ruling Communist Party, said that the successful meeting between Xi and Modi on the sidelines of last month's BRICS summit in Kazan and the restart of China-India relations are in line with the fundamental interests of the two peoples, the expectations of Global South countries and the right direction of history. The two sides should implement the important consensus reached by the two heads of state, respect each other's core interests, enhance mutual trust through dialogue and communication, handle differences properly with sincerity and integrity, and bring the bilateral relationship back on track of stable and sound development at an earl

RCEP benefits minimal for India due to China's opaque trade practices: GTRI

India will not be able to reap greater benefits from the Regional Comprehensive Economic Partnership (RCEP) agreement due to widening trade deficits with member countries and China's opaque trade practices, think tank GTRI said in its report. In 2019, India decided not to join the RCEP bloc due to concerns about trade imbalances and its impact on the domestic industries. The RCEP pact, a kind of comprehensive free trade agreement (FTA), was negotiated among the 10 ASEAN member states -- Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam -- and their six free trade partners -- China, India, South Korea, Japan, New Zealand, and Australia). The countries account for about 30 per cent of the global gross domestic product (GDP) and trade and nearly half of the world's population. "Any benefits from RCEP would likely be minimal and incremental, especially considering China's opaque trade practices. India cannot have a bilateral FTA wit

India-China bilateral trade hits $10.7 billion in October, contracts 0.46%

Out of India's top 10 import partners, inbound shipments from the United Arab Emirates (UAE) grew at the fastest pace in October

China top import source for India during Apr-Oct, exports to China dip 9%

China was India's top import source with USD 65.89 billion, a 9.8 per cent year-on-year increase, worth of inbound shipments during the April-October period of this fiscal, according to the commerce ministry data. Exports to China, however, dipped by 9.37 per cent to USD 8 billion. During the period, the US emerged as the top export destination for the country with outbound shipments increasing by 6.31 per cent to USD 47.24 billion. During the period, the top 10 import sources of India were China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the data showed. Imports from Russia rose by 8.85 per cent to USD 38.8 billion during April-October this fiscal from USD 35.65 billion a year ago. Similarly, the inbound shipments from the UAE rose by 55.12 per cent to USD 38.64 billion from USD 24.9 billion in the first seven months of the last fiscal. During the period, the top 10 export destinations of the country were the US, the UAE, the ...

Govt imposes anti-dumping duty on chemical from China, Korea, Thailand

India has imposed an anti-dumping duty of up to USD 557 per tonne on a chemical used mainly in the adhesive industry from China, Korea, and Thailand for five years to guard domestic players from cheap imports from these nations. The duty was imposed as the chemical - Epichlorohydrin - was exported to India from these countries at below-normal prices. "The anti-dumping duty imposed under this notification shall be levied for a period of five years (unless revoked, superseded or amended earlier)...," the department of revenue said in a notification. The levy is imposed following recommendations for the same by the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR). Anti-dumping probes are conducted by countries to determine whether domestic industries have been hurt because of a surge in cheap imports. As a countermeasure, they impose these duties under the multilateral regime of Geneva-based World Trade Organization (WTO). The duty is aimed at ensuri

Govt imposes anti-dumping duty on five Chinese products for 5 years

India has imposed anti-dumping duty on five Chinese goods, including glass mirror and cellophane transparent film, for five years to guard domestic players from cheap imports from the neighbouring country. These duties were imposed as these products -- isopropyl alcohol, sulphur black, cellophane transparent film, thermoplastic polyurethane, unframed glass mirror -- were exported to India from China at below normal prices. In five separate notifications, the Central Board of Indirect Taxes and Customs, Department of Revenue, said that the duty imposed "shall be levied for a period of five years". The government has imposed the USD 82 per tonne and USD 217 per tonne duty on different Chinese firms on isopropyl alcohol, which has medical and industrial uses. It is also used as an antiseptic for skin and instrumentation, and hand sanitiser. On imports of sulphur black, whose total imports in 2023-24 was USD 4.3 million, a duty of up to USD 389 per tonne has been imposed. It is used fo

Thaw in Indo-China ties: How bilateral trade fared in last decade

China has been among India's top two trade partners for close to over a decade, although New Delhi's import dependency on Beijing has been high as compared to exports

Tata Hitachi expresses concerns over Chinese imports, seeks govt support

Construction equipment major Tata Hitachi on Wednesday expressed concerns over the growing penetration of Chinese imports in the Indian market, capping the growth trajectory of domestic companies despite healthy market conditions. The company urged the government to take measures to encourage companies that have invested heavily in 'Atmanirbhar Bharat' and 'Make in India' initiatives, by countering "unfair" competition from Chinese imports. Tata Hitachi Managing Director Sandeep Singh stated that the market share of Chinese excavators in India has surged to 20-22 per cent, a concerning trend given the country's focus on self-reliance and domestic manufacturing. "The Chinese penetration in the excavators segment has intensified in recent months, reaching about 20-22 per cent. This is very high. Five years back, it was not even 10 per cent," Singh told reporters on the sidelines of the CII-organised IMME and Global Mining Summit 2024. The construction equipment business in India is .

Better trade ties expected as India, China achieve LAC breakthrough

India reaching an agreement with China on patrolling along the LAC in eastern Ladakh is a positive development as it would further create a friendly environment for trade ties between the two countries, say exporters. They added that the move would also provide comfort to Indian businessmen doing business with China. "Present disengagement will give mental comfort to Indian businessmen doing business with China. The Department of Commerce should identify 10 top imports from China and work on them to cut the imports," Mumbai-based exporter and CMD Technocraft Industries Saran Kumar Saraf said. He has a unit in China. India on Monday announced it has reached an agreement with China on patrolling along the Line of Actual Control (LAC) in eastern Ladakh. This is seen as a major breakthrough in ending the over four-year-long military standoff ahead of a likely meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping in Russia this week. Federation of Indian Export .

India-China LAC agreement explained: Does it resolve dispute and what next?

Once implemented, India-China border pact could see Indian Army return to patrolling along India's perception of the LAC in Depsang Plains and Demchok

India and China should join hands to grow together: Justin Yifu Lin

At this stage you have an abundant supply of young laborers. And competitively, the wage rate in India is less than high medium income countries

China emerges as India's top import source during Apr-Sep of FY24

China has emerged as India's top import source with USD 56.29 billion worth of inbound shipments during the April-September period of this fiscal, according to the commerce ministry data. During the period, the US emerged as the top export destination for the country with outbound shipments increasing by 5.62 per cent to USD 40.38 billion. The imports from China rose by 11.5 per cent during the first half of this fiscal. The imports stood at USD 50.48 billion during April-September 2023. During the period, the top 10 import sources of India were China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the data showed. Imports from Russia rose to USD 32.18 billion during April-September this fiscal from USD 30.43 billion a year ago. Similarly, the inbound shipments from the UAE rose to USD 31.46 billion from USD 20.70 billion in the first half of the last fiscal. During the period, the top 10 export destinations of the country were the US, t

'People responsible for China's influence in Indian industry defending it'

At a time when the entire world recognises that China is a non-transparent and opaque economy, some people, possibly responsible for its growing influence in the India industry, are choosing to continue to praise or defend the China story, Commerce and Industry Minister Piyush Goyal said on Thursday. Slamming the previous Congress-led government, he said it is a matter of "shame" that India allowed substandard and opaquely-priced Chinese goods to flood the Indian markets and kill Indian manufacturing. "As regards China, it is very sad that some people, possibly responsible for the growing influence of China in the India industry, are choosing to continue to praise or defend the China story, whereas the whole world today recognises that China is a non-transparent and opaque economy," Goyal told Indian journalists at a news conference here. He was responding to a question on recent remarks by Leader of Opposition in the Lok Sabha Rahul Gandhi during his US trip last month, alleging th

India's manufacturing incentives progress amid efforts to cut China imports

Incentives have resulted in production worth about Rs 11 trillion ($131.6 billion) and nearly one million jobs over four years, Amardeep Singh Bhatia said

India's finished steel imports from China hit 7-year high in April-August

China was the largest exporter of finished steel to India during this period, followed by South Korea and Japan, primarily shipping stainless steel, hot-rolled coil steel, galvanised sheets, plates

India becomes 6th largest market in MSCI ACWI, tops emerging markets list

China's weight has fallen by half since peaking in early 2021, while India's has more than doubled during this period