October 23, 2019, 12:11


Chinese Export Declined With India’s Protective Measures for Domestic Industries – Commerce Minister

Chinese Export Declined With India’s Protective Measures for Domestic Industries – Commerce Minister

New Delhi (Sputnik): Amid an intense tariff war among nations, Chinese goods imports to India fell last year due to restrictions imposed by New Delhi, the Indian Commerce Ministry stated on Wednesday. Indian Commerce Minister Piyush Goyal said total imports from China, declined to  $70.3 billion in 2018-19 from $76.3 billion in 2017-18.

The minister revealed remedial steps were taken to curb the huge influx of Chinese products into the Indian market, which had affected domestic manufacturers.

“In products where we have seen harm to the domestic industry, relief has been provided through anti-dumping duties on 97 products, countervailing measures on three products, and a safeguard duty for one product imposed against China,” the Commerce Minister told parliament.

Goyal, who holds very high esteem in the Narendra Modi cabinet, also added that basic customs duties had also been increased on several products to protect domestic industry.

“Quality control orders are being enforced to check sub-standard imports,” Goyal said while drawing parliamentarians’ attention to sub-standard Chinese products.

The Indian government has been pressing China to open its market to Indian goods.

Data suggests that India recorded a massive surge in exports to China with all new market access for sugar, rice, pharma, grapes, fish meal, fish oil, rapeseed meal, and tobacco in 2018 alone.

India has also asked China for favourable tariffs on a list of another 380 items, including agriculture, horticulture, pharmaceuticals, textiles, chemicals, tobacco and some engineering products.

Last month, trade data revealed that the US beat China as India’s top trading partner. The development comes in the wake of President Donald Trump’s consistent pressure tactics on New Delhi aimed at seeking balance in bilateral trade.

India sold $52.4 billion worth of goods to the US, while it purchased US products worth $35.5 billion in the financial year 2018-19- a jump of around $9 billion in comparison to $26.6 billion in 2017-18. India also recorded a decrease of around $6 billion in its trade deficit with the US.

 

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Weather

Moscow

Today10/22/2019
11℃

Wed
10/23/2019
light rain

  • light rain
  • HI/LO: 12/9
  • Clouds: 93%
  • Wind: 5.39 m/s
  • Wind Direction: WNW
  • Pressure: 1016hPa
  • Humidity: 71%

Thu
10/24/2019
overcast clouds

  • overcast clouds
  • HI/LO: 11/8
  • Clouds: 100%
  • Wind: 2.02 m/s
  • Wind Direction: W
  • Pressure: 1021hPa
  • Humidity: 73%

Fri
10/25/2019
sky is clear

  • sky is clear
  • HI/LO: 11/6
  • Clouds: 0%
  • Wind: 2.22 m/s
  • Wind Direction: SSW
  • Pressure: 1023hPa
  • Humidity: 71%

Sat
10/26/2019
overcast clouds

  • overcast clouds
  • HI/LO: 10/6
  • Clouds: 100%
  • Wind: 3.62 m/s
  • Wind Direction: SW
  • Pressure: 1017hPa
  • Humidity: 88%

Sun
10/27/2019
heavy intensity rain

  • heavy intensity rain
  • HI/LO: 10/6
  • Clouds: 100%
  • Wind: 6.14 m/s
  • Wind Direction: SW
  • Pressure: 1005hPa
  • Humidity: 92%

Mon
10/28/2019
light rain

  • light rain
  • HI/LO: 6/3
  • Clouds: 100%
  • Wind: 5.71 m/s
  • Wind Direction: WSW
  • Pressure: 1003hPa
  • Humidity: 73%

Сторонняя реклама



Статьи
Статьи В
Создание Сайта Кемерово, Создание Дизайна, продвижение Кемерово, Умный дом Кемерово, Спутниковые телефоны Кемерово - Партнёры
Яндекс.Метрика