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India’s trade deficit with China mounts to $ 44.87 in 2015

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India's trade deficit with China mounts to $44.87 billion in 2015
By PTI | 13 Jan, 2016, 03.17PM IST


BEIJING: India's trade deficit with China touched a whopping USD 44.87 billion last year and its exports shrank to USD 13.38 billion as bilateral trade registered a marginal increase, totalling USD 71.64 billion, missing the USD 100 billion target set by the leaders of the two nations.

The total India-China trade in 2015 amounted to USD 71.64 billion, officials here told PTI quoting release by the Chinese customs. The bilateral trade registered a marginal increase compared to USD 70.59 in 2014.

This year China's exports went up to USD 58.25 billion while India's export to China was pegged at USD 13.38 billion, declining from USD 16.4 billion in 2014.

While Indian exports continued to decline due to fall in the iron ore and decreasing demand in view of China's slowdown as well as restrictions on exports, it was also attributed to rising dollar which Indian exporters say is having a negative impact on their profits.

Indian officials say that the trade deficit is more than USD 48 billion if the unofficial trade between the two countries is taken into account.

As the deficit issue continue to be a point of friction between the two countries, India is pressing China to open up more of its markets to IT and Pharmaceuticals which are India's main strengths.

While China continue to promise to look into the Indian demand, the fall of exports show that there is little improvement.

India and China agreed to form a special task force during the visit of Prime Minister Narendra Modi's to Beijing in May this year to review the deficit issue.

But officials say that it has not met so far.

In view of the continued deficit problem, India has been pressing China to step up investments in 'Make in India' and other infrastructure projects.

So far Chinese investments amounted to around USD three billion according to Development Research Centre of China.

The overall trade between them missed the deadline of USD 100 billion trade set by the leaders of the two countries.

Officials say that the marginal increase in trade this year showed that it will be an uphill task to reach the USD 100 billion landmark.

The maximum India-China trade recorded was about USD 77 billion in 2011.

Read more at:
India's trade deficit with China mounts to $44.87 billion in 2015 - The Economic Times
 
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India imports $58 billion or 12.6% of its overall imports from China.

Following are China's top 10 exports to India equaling to $44 Billion which is incidentally equals to the amount of trade deficit. There is no need to beg China to open up it's market. India should go ahead and import these from other countries.

1. Electronic equipment: $16 billion -
2. Machines, engines, pumps: $9.8 billion
3. Organic chemicals: $6.3 billion
4. Fertilizers: $2.7 billion
5. Iron and steel: $2.3 billion
6. Plastics: $1.7 billion
7. Iron or steel products: $1.4 billion
8. Gems, precious metals, coins: $1.3 billion
9. Ships, boats: $1.3 billion
10. Medical, technical equipment: $1.2 billion
 
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India imports $58 billion or 12.6% of its overall imports from China.

Following are China's top 10 exports to India equaling to $44 Billion which is incidentally equals to the amount of trade deficit. There is no need to beg China to open up it's market. India should go ahead and import these from other countries.

1. Electronic equipment: $16 billion -
2. Machines, engines, pumps: $9.8 billion
3. Organic chemicals: $6.3 billion
4. Fertilizers: $2.7 billion
5. Iron and steel: $2.3 billion
6. Plastics: $1.7 billion
7. Iron or steel products: $1.4 billion
8. Gems, precious metals, coins: $1.3 billion
9. Ships, boats: $1.3 billion
10. Medical, technical equipment: $1.2 billion


Wishful thinking. Indian businessmen love to bargain when it comes to dealing and wheeling, so they are very practical.
 
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India has become way too dependent on China in recent years and it doesn't look as though it's going to change any time soon. Good luck.

:lol::lol: are people out of touch with something called reality !!!! India imports just 12 % of goods from China and that's called too much being dependent on China... while in 2013 Pakistan's imports from China was 52% who knows how much % increased now. :haha:
 
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:lol::lol: are people out of touch with something called reality !!!! India imports just 12 % of goods from China and that's called too much being dependent on China... while in 2013 Pakistan's imports from China was 52% who knows how much % increased now. :haha:
Just watch the circus mate. Western border people are too much.
 
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India imports $58 billion or 12.6% of its overall imports from China.

Following are China's top 10 exports to India equaling to $44 Billion which is incidentally equals to the amount of trade deficit. There is no need to beg China to open up it's market. India should go ahead and import these from other countries.

1. Electronic equipment: $16 billion -
2. Machines, engines, pumps: $9.8 billion
3. Organic chemicals: $6.3 billion
4. Fertilizers: $2.7 billion
5. Iron and steel: $2.3 billion
6. Plastics: $1.7 billion
7. Iron or steel products: $1.4 billion
8. Gems, precious metals, coins: $1.3 billion
9. Ships, boats: $1.3 billion
10. Medical, technical equipment: $1.2 billion


I wonder how is the plan to set up wafer fabrication units shaping up? Can anybody with up to date knowledge be good enough to shed light on this development . China seems to make a killing exporting electronic items to India.

As an aside I purchased a One plus One from the site amazon . Its been 6 months since that accursed day when the screen just went blank - just like that & 1 month to the day since I've been running their service stations chasing them for non existent spares & essentials like customer service ( which merits a separate thread )
. As a friend who acts as sourcing expert for an MNC based in the U.S aptly described these assembly lines in China - Garbage in ,Garbage out. I can see the wisdom in his statement now.
 
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India definitely needs China for affordable goods. A poverty stricken country like India cannot afford expensive goods. India has nothing that China needs.
With the exception of affordable pharmaceuticals, which Chinese Govt has deprived its citizens, in the interest of money.


Chinese are willing to go to jail just to obtain Indian pharmaceuticals

When patients get caught between cancer and crime - China - Chinadaily.com.cn

After businessman Lu Yong was charged with "the sale of fake drugs" and "impairing credit card administration", the case once again set off debates over unlicensed overseas anti-tumor medicines.

In contrast with patented drugs sold for higher prices, partially resulting from huge R&D expenditure by initial developers, the compulsory license practice enabled an Indian generic version to be more affordable. In China, there is also such a stipulation in patent law, which has never been resorted to.

The 46-year-old owner of a textile export company in Wuxi, Jiangsu province, Lu helped buy Indian medicines, which are unlicensed in China, via credit cards that turned out to be illegal.

Under the current legal system, drugs that have not been given the green light by related authorities are considered fake, even if they are effective, prosecutor Luo Jian, who is dealing with the case, told Beijing Times.

People who provide accounts for the sale of fake drugs will be treated as accomplices, according to the law, Luo said.

Lu himself was diagnosed with chronic myeloid leukemia in 2002 and began to take Gleevec, developed by Swiss pharmaceutical giant Novartis for use in the treatment of multiple cancers.

The anti-tumor drug recommended by his doctor was priced around 23,500 yuan ($3,777) per box at that time and he needed to take one box a month.

As the medicine is not covered by the national medical insurance system, he told Chinese Business View that he spent 600,000 to 700,000 yuan on his treatment in the first two years after his diagnosis and was almost broke.

In 2004, Lu began to turn to Gleevec's Indian version, Veenat, which had a similar effect yet cost much less, 3,000 yuan, if bought directly from India. He shared his find with other leukemia patients in support groups at social network platform QQ. As a result, more than 1,000 members of the groups followed suit.

Complicated procedures that involve filing various documents in English for the shipments remained a "torture" for many of these new buyers. So Lu served as an interpreter for them, free of charge.

The price of Veenat continued to fall over the years, because of growing group purchases. The cost, including mail charges, had dropped to around 200 yuan by September 2013, Lu said.

To tap into the huge underground market, the Indian company opened bank accounts in China to facilitate remittance yet faced frequent problems due to restrictions and technical issues in transnational payments.

The company asked Lu, one of their earliest Chinese buyers, to use his own account as a bridge, he told media.

They had previously used accounts belonging to two patients in Yunnan province, through which Lu and others suffering from leukemia remitted payments for their medicines from India. But the account owners quit as the volume of trade grew because they were afraid of getting into trouble.

Lu took over the transfer role. He bought credit cards at an online shop in 2012 to remit payments for more than 1,000 patients a month. He said he didn't realize that the shop was "an illegal group specializing in credit card trade" until he was caught by police in November 2013.

He was prosecuted in Yuanjiang, Hunan province, in July 2014. The court was scheduled to hear the case in late November but it was postponed because of his health.

"I've just told those that are sick as me the medicine that can maintain our lives," he told the Oriental Morning Post. "They didn't buy medicines from me and I earned no difference or charged any fees."

Chinese Business View quoted him as saying: "If I were taken back in time, I would do the same. Our national policies cannot cover every patient. What I did is complementary to the shortcomings of the policies."

For him, the biggest benefit from providing his accounts might be the free drugs provided to him by the Indian company, as they had done with the previous account providers. Yet Lu said the exemption was not a big deal for him.

Prosecutor Luo said: "Law has its own bottom line. It is out of the question to give him an immunity from criminal liabilities just because he did it for others. Otherwise he would be followed and the law would be pointless."

According to the latest judicial interpretation by the Supreme Court released in November, the sale of a small number of unlicensed overseas medicines that do not damage or delay treatment is not considered a crime.

There is some humanity in the policy, Liu Guiming, chief-editor of Democracy and Law magazine, told The Paper.

It takes care of individual cases. When there is a patient in need of such medicine at home, the Indian drug is an option for consideration, Liu said.

Yet for cancer patients that need to take anti-tumor drugs in the long-term, it is easy to cross the line.

Lu said Gleevec in China is probably sold at the highest price in the world, much more than the $2,200 it costs in the United States. He called on foundations to help resolve the medical bills for cancer patients and suggested governments negotiate with companies to cut prices.

He said he hoped more anti-tumor drugs would be covered by national medical insurance. However Xiao Zesheng, a law professor at Nanjing University, told The Paper that paying too high prices for anti-tumor medicines will damage others' interests and is unfair to them. "The key is the high prices," he said.
 
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I wonder how is the plan to set up wafer fabrication units shaping up? Can anybody with up to date knowledge be good enough to shed light on this development . China seems to make a killing exporting electronic items to India.

As an aside I purchased a One plus One from the site amazon . Its been 6 months since that accursed day when the screen just went blank - just like that & 1 month to the day since I've been running their service stations chasing them for non existent spares & essentials like customer service ( which merits a separate thread )
. As a friend who acts as sourcing expert for an MNC based in the U.S aptly described these assembly lines in China - Garbage in ,Garbage out. I can see the wisdom in his statement now.

Gentleman, buy an iPhone 6 plus instead.
 
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But we are not SUPER POWER remember :cheers:

Wow... when have we call our selves a superpower.... we're dreaming of becoming one but we're currrently not, and some individual doesn;t represent everyone or the Indian Government. I can also post you the link of Pakistanis claiming Pakistan would become a mini superpower so and so... bu in reality they don't stand for the entire population of Pakistan or India...
 
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Wow... when have we call our selves a superpower.... we're dreaming of becoming one but we're currrently not, and some individual doesn;t represent everyone or the Indian Government. I can also post you the link of Pakistanis claiming Pakistan would become a mini superpower so and so... bu in reality they don't stand for the entire population of Pakistan or India...

90% of Indian think that why and check many post on PDF proof that my claim is correct. As far as i know we have three types of power

Super power:
US
Continent powers:
Teir One: China, Russia, France
Teir Two: Germany, UK, Italy (They don't make complete set of air, sea and land latest weapons by them self now)
Regional Powers:
Teir One: India, Japan, Turkey, South Korea
Teir Two: Pakistan, Israel, North Korea (Due to weak economy or not enough land area)

List can be improve and i may be left some one or two nations
 
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