Commerce Ministry to study impact of Chinese imports Back to News & Events List


A staggering trade deficit of $51 billion with China has prompted the government to conduct a study on the impact of Chinese imports and the extent to which they have displaced domestic production. 
 
The commerce ministry will also seek to identify Chinese products that can be substituted competitively by domestic products through this in-depth study for the period between 2007-08 and 2016-17. 
 
There will be specific emphasis in the study on sectors like steel, urea and other chemicals including pharmaceuticals, electronics, telecom and consumer products of mass consumption. 
 
The study will estimate the impact of Chinese imports on employment generation, an official aware of the development said, adding that the government will hire an external consultant to do the analysis. 
 
Last week, the European Union ruled to check excessively cheap imports, as it flagged China for special attention, reasoning its economy is distorted by the state. It could mean more anti-dumping action against Chinese imports into the European Union. 
 
This would encourage other countries as well to take action against very cheap Chinese goods that have flooded their markets. Among developing countries, India's trade with China has witnessed a steep rise with bilateral trade increasing to $71.4 billion in 2016-17 from $70.7 billion in 2015-16 and China replacing the US as the biggest trade partner of India.
 
Original Source: economictimes.indiatimes.com

Recent News


11

08/2018
India-Myanmar border opens for trade

India's border with Myanmar was formally opened on Wednesday to facilitate trade between the two countries, officials said.   A function was held in the morning on...

26

07/2018
India extends $200 million credit lines to Rwanda; PM Modi holds talks with President Kagame

India on Monday extended $200 million lines of credit to Rwanda as Prime Minister Narendra Modi held wide-ranging talks with President Paul Kagame and discussed measures to st...

10

07/2018
India does not subsidise exports, complies with WTO norms: Suresh Prabhu

Dispelling the misconception that India subsidises its exports, Commerce Minister Suresh Prabhu today asserted that the country fully complies with the guidelines of the...

21

06/2018
India Says US Trade Preference Program Enhances Pace Of Economic Reforms

 India today told the Trump administration that the Generalized System of Preference program (GSP) would enhance India's development and the pace of economic reforms, ...