New Delhi, Rajiv Kumar. India is also in a mood for cross-border battles with China. The government has made it clear that India wants equal status in trade relations with China and now India will not tolerate any non-equal thing. Commerce and Industry Minister Piyush Goyal clarified the government’s intention that Chinese companies will be given a chance to work in the same areas of India in which China will give opportunity to Indian companies. In areas where China will not give opportunity to Indian companies, Indian regions will also be banned for Chinese companies.
According to foreign trade experts, the government may pressurize China to open the doors of all areas in which China has not given any opportunity to Indian companies. The most prominent among these is the IT sector, where Indian companies are not given any opportunity to supply or service.
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Indian companies do not get business opportunity even in Chinese government departments. Even for pharma exports, China has not opened its doors to India yet. For trade parity, the government may also pressurize China to reduce trade deficit.
India’s trade deficit with China is steadily increasing. According to data from the ministry, India imported $ 68.1 billion from China in January-December 2017, while India exported $ 16.34 billion during the period. In the year 2018, this import increased to $ 76.87 billion. India exported $ 18.83 billion during this period. India imported $ 68 billion from China from January to November in 2019, while India exported $ 16.32 billion to China during this period.
According to ministry sources, India exports many raw materials like cotton, gems, diamonds to China and China imports their finished goods. India imports significantly more machinery from China.
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