Despite political tension and diplomatic complications between India and China, business activities continue, but trade imbalances between the two countries are becoming serious. According to the latest data, India’s trade deficit has increased to $ 99.2 billion with China. Meanwhile, China has indicated that it wants to reduce this imbalance by increasing the import of India’s premium products.
Indian products will get better chance in China
India’s Ambassador to Beijing, Shoo Fahong, said in a special conversation with the Times of India that China is ready to give Indian companies more access and opportunities in its market. He emphasized that India should also provide fair, transparent and discriminatory environment for Chinese companies. He supported Prime Minister Narendra Modi’s statement that it was said that competition should not be converted into conflict.
Needs for softening and dialogue in relationships
According to Ambassador Shu Fahong, dialogue between the two countries is going on over the Indo-China border dispute and now there are indications of improvement in relations. He said that if the two countries see mutual development from a positive perspective and do not let limited controversies dominate widespread relations, then new opportunities of cooperation can open.
China’s cleaning on trade imbalance
It was clarified by China that he never wanted the Trade Surplus intentionally. He appealed to Indian companies to take advantage of the huge consumer power of the Chinese market. For example, products such as chilli, iron ore and cotton threads were mentioned which were exported in large quantities to China last year.
Also, Indian companies have been invited to participate in international trade fairs to be held in China.
Answer on machinery and visa issue
Regarding India’s concern that China is hesitant to send machinery or human resources in India, Shu made it clear that there is no restriction from China. Rather, he said that Chinese citizens have difficulties in getting Indian visas, and negative reporting about China’s investment in Indian media creates discomfort.
Hydropower project on Brahmaputra River
He also responded to India’s concerns about the hydroelectric project being built by China on the Brahmaputra River. He claimed that the purpose of this project is only clean energy production, not water harness. Its purpose is to prevent disasters and to balance environmental balance, not pressurizing anyone.
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The post discussion on India-China trade balance: China expressed interest in import of premium products from India, signs of improving relationships first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
