• Friday, August 14, 2020

Indian exporters urge FTA with China

Discussion in 'China & Far East' started by TaiShang, Aug 22, 2014.

  1. TaiShang

    TaiShang ELITE MEMBER

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    Indian exporters urge FTA with China
    The Brics Post

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    India and China have been conducting extensive talks on a historical border dispute for several years [Getty Images]

    Ahead of a China- India Trade and Commerce Ministers meet, Indian exporters are urging the Narendra Modi government to begin discussions on a free trade agreement with the world’s second largest economy, China.

    “We should boldly consider an FTA with China as Indian exporters can gain enormously if tariffs are brought down in the Chinese market. We will discuss our proposal for a FTA with China with the Commerce Minister,” said Indian exporters body FIEO chief Rafeeque Ahmed.

    Chinese Trade Minister Gao Hucheng will hold talks with his Indian counterpart Nirmala Sitharaman in Beijing in the first week of next month.

    India and China have already signed a cooperation agreement on industrial parks aimed at attracting Chinese investments.

    In 2013-14, bilateral trade between China and India stood at $65.85 billion. The deficit during 2013-14 was $36.22 billion. China invests close to $100 billion annually in different parts of the world whereas in India they have invested only about $410 million in the last 14 years.

    Meanwhile, on Thursday in the Indian capital, the Federation of Indian Export Organisations said global commerce is showing improvement and it is expected to grow at 4.7 per cent this year and 5.3 per cent in 2015.

    India’s exports are expected to reach $750 billion by 2018-19 with improvement in the global trade scenario, the FIEO chief said on Thursday in New Delhi.

    “We are optimistic that we would be able to cross $350 billion this fiscal,” said Ahmed.

    Indian exports slowed from previous months in July, increasing at 7.3 per cent to $27.72 billion while imports went up 4.25 per cent to $40 billion, the Indian Commerce Ministry said last week.

    The trade deficit widened to $12.22 billion from $11.76 billion in June.

    Indian exports were growing more than 10 per cent for two months in a row till June.

    Rise in exports was largely driven by key manufacturing exports—engineering (23.9 per cent), leather (17.23 per cent), pharma (10.78 per cent), textiles (13.3 per cent)—and petroleum exports (28.1 per cent).

    India has 16 regional trade agreements in force with a dozen more under negotiation.
     
  2. Chinese-Dragon

    Chinese-Dragon RETIRED TTA

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    We are soon going to be the largest importer in the world, which will help to fuel our consumption as well.

    That is a huge market for any prospective exporter in the world.

    But I doubt the Indian members here would be pleased with the idea of an FTA. :D
     
  3. kbd-raaf

    kbd-raaf SENIOR MEMBER

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    Why would we not like an FTA, given that Indian companies are able to compete with Chinese prices.
     
  4. Chinese-Dragon

    Chinese-Dragon RETIRED TTA

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    Because I've seen Indian members saying that an FTA with China would be a death warrant for many of their domestic industries. And that India already has a significant trade deficit to China.

    But hopefully the Indian government will see it your way, the pro-business way. :enjoy:

    No better way to improve competitiveness, than competing under the pressure of an FTA.
     
  5. Edison Chen

    Edison Chen SENIOR MEMBER

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    China's Free Trade Agreements

    China-ASEAN FTA
    China-Pakistan FTA
    China-Chile FTA
    China-New Zealand FTA
    China-Singapore FTA
    China-Peru FTA
    Mainland and Hong Kong Closer Economic and Partnership Arrangement
    Mainland and Macau Closer Economic and Partnership Arrangement
    Cross-strait economic cooperation framework agreement (ECFA)
    China-Costa Rica FTA
    China-Iceland FTA
    China-Switzerland FTA

    Free Trade Agreements under Negotiation

    China-GCC(Gulf Cooperation Council) FTA
    China-Australia FTA
    China-Norway FTA
    China-Korea FTA Joint Feasibility Study
    China-Japan-Korea Joint Study


    Free Trade Agreements under Consideration

    China-India Regional Trade Arrangement Joint Feasibility Study (finished)
    Joint Feasibility Study on a China-Sri Lanka Free Trade Agreement (finished)
    China-Israel FTA
    China-Columbia FTA

    Preferential Trade Agreement

    Asia-Pacific Trade Agreement


    Source: China FTA Network, 我国签了哪些自由贸易协定(FTA)? - 自贸区资讯 - 自贸区通讯社-专注于自贸区资讯、政策解读和知识分享网站
     
    Last edited: Aug 22, 2014
  6. Echo_419

    Echo_419 ELITE MEMBER

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    No,they will be massacred we are nowhere near you in providing cheap goods,i am waiting for September to arrive hopefully you guys will make some big announcements like opening Industries where we are still strong pharma & IT are the main ones & Invest heavily in Indian market

    Seriously no FTA with China
     
  7. Raphael

    Raphael SENIOR MEMBER

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    Do Indian exporters really want this? No offense to them, but they aren't ready to compete with China, esp. in its home market.