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Buoyed By Growing Exports To China, India Shares List Of 380 More Products To Further Boost Exports
Prime Minister Narendra Modi meets Chinese President Xi Jinping in Xian, Shaanxi province, China. (Kim Kyung-Hoon - Pool/GettyImages)
Buoyed by the success Indian authorities have achieved in their bid to boost exports to China while curtailing the burgeoning trade deficit, India has now identified and shared a list of 380 products with China. The list includes products from areas encompassing horticulture, textiles, chemicals, pharmaceuticals and more.
From April to February 2018-19, India's exports to China grew by 28.61% to about $15 billion, while imports contracted by 6.29% to about $65 billion, with deficit in trade being recorded at $50.12 billion.
India is taking several steps to promote shipments to China. Recently, it has managed to export agricultural goods such as non-basmati rice to China. In recent months, India's exports of marine products, cotton, organic chemicals, grapes and plastics have also increased significantly, reports Livemint.
India is seeking greater market access for various agricultural products, animal feeds, oilseeds, milk and milk products, pharmaceuticals in light of the potential of these products/services in the Chinese market.
In the same spirit, a hundred Indian exporters of smart home appliances, auto components, medical equipment and agricultural items are also set to showcase their products at the second edition of China International Import Expo, which will be held in Shanghai, later this year from 5-10 November 2019.
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