Times of India - Chennai

India to seek easier export rules to China

Date: 26/03/2018 | Edition: Chennai | Page: 16 | Source: sidhartha | Clip size (cm): W: 19 H: 27

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Extracted Text data: India to seek easier export rules to China Will Pitch For Relaxed Norms For Pharma And Farm Products In Today's Meeting Sidhartha@timesgroup.com New Delhi: Amid rising tra-de tension globally, India and China will meet on Monday to look at ways to strengthen bi-lateral ties with New Delhi p itching for easier rules for its exports to bridge the massive trade deficit. Sources told TOI that aut-horities led by commerce and industry minister Suresh Prabhu will pitch for China to address several of the long-pending grievances that in-clude barriers to ship medici-nes and farm goods even as domestic IT firms haven't be-en able to enter the market across the border. At the same time, there are indications that the govern-ment is more open to treat China as a "market economy" for anti-dumping and other actions, an issue which has turned into a trade dispute at the WTO —with Beijing drag-ging the US and the European Union to the global forum. India's trade deficit with China was estimated at over $51 billion in 2016-17 as im-ports of close to $62 billion en-tered the domestic market. In contrast, India's exports were estimated at just over $10 bil-lion led by chemicals and ores (see graphic). The commerce depart-ment has a long list of de-mands starting with entry of nearly 250 pharmaceutical bovine meat, where China is blocking access due to fears of foot and mouth disease, a pro-blem afflicting cattle on the other side of the border too. WIDENING GAP 70 60.4 61.7 61.3 63. India-China trade ($bn) ? Imports • Exports 30 20 48.5 52.7 10 11.9 9 0 o 2014- 2015-2015 2016 "Apr-Jan 10.2 10.3 1131J30 313V211 2016- 2017-2017 2018' Source: Commerce dept KEY EXPORTS 2017-18 (Applan) Sbn Organic chemicals Copper Ores & slag 1.2 1 KEY IMPORTS Electric equipment 23.9 Boilers & machinery 1.1.0 Chemicals 5.9 products into China. India is suggesting easier entry norms for drugs that are clea-red for use in other countries, an issue on which some pro-gress is finally expected in the coming months as China is putting in place a fast-track mechanism for this segment. Similarly, the government wants an early disposal of its demand for allowing export of On non-basmati rice too, India has been pressing for market access in China but the rules are such that autho-rities will first visit every rice mill in the country before allo-wing shipments out of here, said officials. "We want China to expedite the whole process as we have been discussing this for at least five-six years now," said an official.