China's commercial aggression hits Indian industry as trade gap widens
Updated: May 20, 2013 12:55:51pm
New Delhi, May 20 (KNN) Chinese Premier Li Keqiang is engaged in intensive talks with the Indian leadership here today at a time when China’s commercial aggression has hit the Indian industry, particularly micro, small and medium enterprises (MSMEs) hard.
In fact, according to official data, the Chinese business aggression in the Indian market is visible in all segments of the industry, be it small or big.
Whether their idols of Hindu Gods or power equipment for the energy companies or even telecom switch systems, China is predominant in the Indian markets.
No wonder that India’s imports of USD 54 billion from China are a little short of four times India’s exports to them, as per the latest data.
The Indian leadership is sure to raise this issue with the Chinese Prime Minister and a high-level delegation accompanying him.
China has emerged as the largest supplier of merchandise goods to India, overtaking even the oil exporting countries. China claimed a tidy 20 per cent share in India’s total non-oil, non-gold imports of USD 268 billion in the financial year 2012-13 much to the detriment of India’s domestic industry, mainly the small and medium enterprises.
At a time when Chinese economy, like most other economies of the world, is slowing, its exports to India would be of vital interest to the Chinese dispensation, analysts said.
Electronics, machinery, precious pearls and other commodities are the principal items of import from China.
When it comes to exports, main items which are shipped to China are petroleum products, transport equipment, machinery and drugs and pharmaceuticals. However, the Indian shipments face a lot of trade barriers in China, particularly with regard to pharmaceuticals.
A large-scale dumping of Chinese goods has hurt the interest of the Indian businessmen and manufacturers in their own markets. Most of the damage has been done to the small and medium enterprises which find it difficult to compete with the economies of scale from aggressive exporters. Be it toys, worship idols, lightings, tubes, the Chinese goods are all there. (KNN)
In fact, according to official data, the Chinese business aggression in the Indian market is visible in all segments of the industry, be it small or big.
Whether their idols of Hindu Gods or power equipment for the energy companies or even telecom switch systems, China is predominant in the Indian markets.
No wonder that India’s imports of USD 54 billion from China are a little short of four times India’s exports to them, as per the latest data.
The Indian leadership is sure to raise this issue with the Chinese Prime Minister and a high-level delegation accompanying him.
China has emerged as the largest supplier of merchandise goods to India, overtaking even the oil exporting countries. China claimed a tidy 20 per cent share in India’s total non-oil, non-gold imports of USD 268 billion in the financial year 2012-13 much to the detriment of India’s domestic industry, mainly the small and medium enterprises.
At a time when Chinese economy, like most other economies of the world, is slowing, its exports to India would be of vital interest to the Chinese dispensation, analysts said.
Electronics, machinery, precious pearls and other commodities are the principal items of import from China.
When it comes to exports, main items which are shipped to China are petroleum products, transport equipment, machinery and drugs and pharmaceuticals. However, the Indian shipments face a lot of trade barriers in China, particularly with regard to pharmaceuticals.
A large-scale dumping of Chinese goods has hurt the interest of the Indian businessmen and manufacturers in their own markets. Most of the damage has been done to the small and medium enterprises which find it difficult to compete with the economies of scale from aggressive exporters. Be it toys, worship idols, lightings, tubes, the Chinese goods are all there. (KNN)
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