Effect of Receding Economy of China on India's Global Market

Government is not of the view that China’s economy is receding. It is up to the businessmen and industrialists of the country to identify opportunities, consolidate the advantage and increase their market share in the respective sector by manufacturing and supplying quality goods to the world market at competitive prices.

 No specific study has been carried out to identify India’s export strength vis-à-vis China. However based on export-import profile analysis of India-China trade, sectors like Pharmaceuticals, Information Technology (IT) & Information Technology Enabled services (ITES), Auto Components, Agro Products, Tourism, Film & Entertainment are potential sectors of India’s export interest to China.

 The Prime Minister of India launched ‘Make in India’ global initiative on 25th September, 2014 from Vigyan Bhawan. ‘Make in India’ initiative intends to invite both domestic and foreign investors to invest in India.

‘Make in India’ has identified 25 sectors in manufacturing, infrastructure and service activities and detailed information including existing opportunities for investment is being shared with investors through meetings, seminars interactive web-portal and professionally developed brochures.

 This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Rajya Sabha today.