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TMI BlogIndian exports to China witness growthX X X X Extracts X X X X X X X X Extracts X X X X ..... Indian exports to China witness growth - News and Press Release Dated:- 5-2-2022 - News - Indian exports to China witness growth Government makes sustained efforts to achieve a more balanced trade with China Strict measures in the form of trade remedies taken to curb unfair trade practices The exports from India to China have increased from USD 13.33 billion in 2016-17 to USD 21.19 bi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llion in 2020-21, exhibiting growth. The trade with China was USD 87.07 billion in 2018-19, which registered a decline in 2019-20 to USD 81.87 billion, and was USD 86.40 billion in 2020-21. The merchandise trade data of India s exports to and imports from China, total trade and trade deficit, for the period FY 2017-18 to FY 2021-22, is as under: (Values in USD billion) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... YEAR 2017-18 2018-19 2019-20 2020-21 Import 76.38 70.32 65.26 65.21 Export 13.33 16.75 16.61 21.19 Total trade 89.71 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 87.07 81.87 86.40 Trade deficit 63.05 53.57 48.65 44.02 (Source: DGCIS) The Government of India has made sustained efforts to achieve a more balanced trade with China, including bilateral engagements to address the non-tariff barriers on Indian export ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to China. The Government has also taken measures in form of trade remedies (Anti-dumping, countervailing duty etc.) against unfair trade practices and formulated technical regulations and also issued quality control orders to check substandard imports. Efforts have also been made to source critical supplies from alternate sources and sensitize the concerned ministries/departments to ramp up do ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mestic capacities. The Government has also launched schemes such as Production Linked Incentive Schemes (PLIs) to promote domestic manufacturing capacities in critical sectors such as Key Starting Materials(KSMs)/Drug Intermediates(DIs), Active Pharmaceutical Ingredients(APIs), domestic manufacturing of Medical devices, and for Pharmaceuticals apart from electronic components mobiles, white ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods (ACs and LEDs), Specialty Steel, Food Processing industry, High efficiency Solar PV modules, Drones and Drone Components etc. These schemes will promote domestic manufacturing capacities and attract investment and reduce dependency on imports from China. Government of India follows a multi-pronged strategy to promote trade in services, which involves negotiating meaningful market access t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hrough multilateral, regional and bilateral trade agreements, trade promotion through participation in and organization of international fairs/exhibitions and addressing domestic sectoral challenges and difficulties which are identified through periodic consultations with the stakeholders. Moreover, efforts are made to engage with the nodal Ministries/Departments to pursue a domestic reform agenda ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to make the services sector competitive globally. This information was given by the Minister of State in the Ministry of Commerce and Industry, Smt. Anupriya Patel, in a written reply in the Rajya Sabha. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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