Press Esc to close
Monday 06 July 2015
News updated at 9:02 PM IST
Weather
Max: 33°C
Min : 20°C
In Bengaluru
Partially cloudy
Breaking News

India rejects China's call for trade talks

Anirban Bhaumik, New Delhi, May 16, 2013, DHNS:

India has turned down China’s proposal to launch negotiations for a regional trade agreement citing the widening imbalance in bilateral commerce over the past few years despite a promise by former Chinese premier Wen Jiabao to address the issue.

Ahead of Wen’s successor Li Keqiang’s first visit to India, New Delhi made it clear to Beijing that it was not willing to start negotiations for a regional trade arrangement unless the latter took some serious measures to address its concerns over widening trade imbalance.  Though the recent border standoff at Depsang valley in Ladakh cast a shadow on the bilateral ties, China is keen to focus on its trade and economic relations with India during Li’s three-day visit to New Delhi and Mumbai commencing Sunday.

India-China bilateral trade grew from $61.74 billion in 2010 to $73.9 billion in 2011, but then declined to $66.57 billion in 2012.

India’s trade deficit with China, however, continued to grow steadily from $20.02 in 2010 to $27.08 in 2011 and $28.93 in 2012.

The trade imbalance continued to grow over the past years despite a specific promise Wen had made during his meeting with Prime Minister Manmohan Singh in New Delhi in December 2010. The two leaders had set a new bilateral trade target of $100 billion to be achieved by 2015, with Wen assuring Singh that Beijing would “take measures to promote greater Indian exports to China with a view to reduce India’s trade deficit” with China.

The measures promised by Wen included Beijing’s support for Indian participation in national and regional trade fairs in China, advancing trade facilitation, enhancing exchange and cooperation of pharmaceutical supervision and building stronger relationships between Chinese enterprises and Indian IT industry and speedier completion of phyto-sanitary negotiations on agro products.

But, notwithstanding Wen’s promises, not much had changed on the ground since 2010 and Indian companies continued to experience difficulties in doing business in China. Even the Indian IT and pharmaceutical companies have little penetration in China, despite achieving successes around the world.

Sources told Deccan Herald that New Delhi would express its concerns over growing imbalances in bilateral trade during the new Chinese Premier’s visit and would press Beijing hard to deliver on the promises made by Wen.

Chinese Vice Commerce Minister Chen Jian, however, told D S Rawat, secretary general of the industry body ASSOCHAM, in New Delhi on Thursday that Beijing was keen to help Indian exporters to market their products in China.


Go to Top

Photo Gallery
'Umbrella Workshop' where people paint umbrellas with colors in Navi Mumbai...

'Umbrella Workshop' where people paint umbrellas with colors in Navi Mumbai...

Visitors looking the BSF weapons on the occasion of the 50th anniversary of the BSF...

Visitors looking the BSF weapons on the occasion of the 50th anniversary of the BSF...

Mobile app ' Namma Bellad' launched in Bengaluru...

Mobile app ' Namma Bellad' launched in Bengaluru...

Sadhvi Niranjan Jyoti feeds cows during her visit to Gir Seva Goshala in Ahmedabad...

Sadhvi Niranjan Jyoti feeds cows during her visit to Gir Seva Goshala in Ahmedabad...

An highly decorated Vruksha hall during the 'BJP Maha Samparka Abhiyan 2015'...

An highly decorated Vruksha hall during the 'BJP Maha Samparka Abhiyan 2015'...

A fire broke out at Sony manufacturing plant in Navi Mumbai on Sunday...

A fire broke out at Sony manufacturing plant in Navi Mumbai on Sunday...

Pilgrims crosses the mountains as they move towards Amarnath Holy Cave Shrine...

Pilgrims crosses the mountains as they move towards Amarnath Holy Cave Shrine...

A Kashmiri Muslim woman offers noon prayers in the ruins of an ancient Hindu temple...

A Kashmiri Muslim woman offers noon prayers in the ruins of an ancient Hindu temple...

A security man keeps vigil on the mountains near Amarnath Holy Cave Shrine 3880 meters high...

A security man keeps vigil on the mountains near Amarnath Holy Cave Shrine 3880 meters high...

An Indian boy practices Mallakhamb, a traditional Indian gymnastic sport...

An Indian boy practices Mallakhamb, a traditional Indian gymnastic sport...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523