China Agrees to Address India's Trade Deficit Concerns

[Theparadox]

The India-China Joint Group of Economic Relations, Trade, Science and Technology concluded in New Delhi with a mutual agreement to enhance bilateral trade relations, preparations of an action plan, a greater focus on regional comprehensive economic partnership and e-dialogue.

New Delhi (Sputnik): Minister of Commerce and Industry Suresh Prabhu and Minister of Commerce of the People's Republic of China, Zhong Shan, co-chaired the 11th meeting of the India-China Joint Group of Economic Relations, Trade, Science and Technology in New Delhi on Monday.

https://twitter.com/x/status/978226266435235840

The joint group is the oldest and the most important dialogue mechanism between India and China. It is an important forum to address the bilateral trade imbalance.

"Indian Commerce Minister exhorted his Chinese counterpart for greater market access for agricultural products like rapeseed, soybean, basmati and non-basmati rice, fruits, vegetables, and sugar. Another commodity which could be exported from India to China is the high-quality pharmaceutical products," India's commerce ministry's statement read.

Chinese Commerce Minister Zhong Shan promised to address India's concerns about the growing trade deficit.

"Chinese Minister Zhong Shan welcomed Indian investment in China and promised to address the trade deficit between the two countries. The Minister highlighted the important issues discussed in the meeting liked two-way trade relations, preparations of an action plan, a greater focus on Regional Comprehensive Economic Partnership and e-dialogue. Shan also said that candid and effective discussions with India on trade relations can serve as the propeller for the growth not only between the two countries but in the entire region," the statement added.

The increasing trade deficit with China has been a major concern for India. In 2016-17, India's imports from China amounted to $61.3 billion while exports were $10.2 billion. India has been pushing for the export of its IT and IT-enabled services to China and cooperation in the sectors of tourism and healthcare in order to narrow the trade deficit.

 

[Sinnerman108]

Good diplomatic move by India
The Americans will be watching this very closely as this goes against the developing understanding.
India just doubled the pot money value.
Your turn Uncle Sam.

 

[Skull and Bones]

Beijing feeling the heat already?

https://www.ndtv.com/opinion/how-india-will-gain-from-us-china-trade-war-1829191

Now is the time to lobby for a FTA with US.

 

[Papa Dragon]

I would always prefer good relationships with Asian countries, primarily Russia & China over the US

 

[kris]

I really wonder, other than natural resources we hardly have anything to offer to China.

Best is to search in Indian ocean for hidden resources.
Wish we hit a diamond mine