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SINO-INDIAN TRADE RELATION
INTRODUCTION
• India China Trade Relation• Also known as sino-indian relations• Two most populous and fastest growing economy• Trade relations for over more than 2000 years • However there are many boundary conflicts affecting this
trade
BACKGROUND
• 1949: Government of India extends recognition to the People's Republic of China • 1950: India becomes the first non socialist country to establish trade relation with PRC • 1954: Trade agreement between PRC and India signed in New Delhi • 1976: India China trade relation restore relations after fifteen years gap • 1988: Indian Prime Minister Rajiv Gandhi pays an official visit to China to establish a
joint working group on boundary question • 1994: Double Taxation avoidance agreement signed • 2006: Indian Defense Minister signed a memorandum of understanding on defense
exchange and cooperation • 2008: Bilateral trade breaks $50 billion mark and China becomes India's largest
trading partner in goods. • 2010: 60th anniversary of bilateral relations commemorated through "Festival of India
in China" and "Festival of China in India"
OBJECTIVE OF STUDY
1. Major Sectors that India Exports to China.
2. Major Sectors that India Imports From China.
Major Sectors that India Exports to China
1. Cotton
2. Copper and Articles thereof
3. Ores, Slag and Ash
COTTON
2012-13 2011-12 2010-11 2009-10 2008-09 2007-08 2006-07 2005-06 2004-05 2003-04 2003-020.00
500,000.00
1,000,000.00
1,500,000.00
2,000,000.00
2,500,000.00
COTTON
COTTON
COPPER AND ARTICLES THEREOF
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06
2004-05
2003-04
2003-02
0.00
200,000.00
400,000.00
600,000.00
800,000.00
1,000,000.00
1,200,000.00
1,400,000.00
COPPER AND ARTICLES THEREOF
COPPER AND ARTICLES THERE OF
ORES, SLAG AND ASH
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06
2004-05
2003-04
2003-02
0.00
500,000.00
1,000,000.00
1,500,000.00
2,000,000.00
2,500,000.00
3,000,000.00
ORES,SLAG AND ASH
ORES,SLAG AND ASH
Major Sectors that India Imports from China
1. Organic Chemicals.
2. Nuclear Reactors, Boilers, Machinery and Mechanical Appliances; Parts Thereof.
3. Electrical machinery and Equipment and Parts Thereof; Sound Recorders and Reproducers, Television Image and Sound Recorders and Reproducers, and Parts.
ORGANIC CHEMICALS
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06
2004-05
2003-04
2003-02
0.00
500,000.00
1,000,000.00
1,500,000.00
2,000,000.00
2,500,000.00
3,000,000.00
ORGANIC CHEMICALS
ORGANIC CHEMICALS
NUCLEAR REACTORS, BOILERS; PARTS THEREOF.
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06
2004-05
2003-04
2003-02
0.00
1,000,000.00
2,000,000.00
3,000,000.00
4,000,000.00
5,000,000.00
6,000,000.00
NUCLEAR REACTORS, BOILERS, MACHINERY AND MECHANICAL APPLIANCES; PARTS THEREOF.
NUCLEAR REACTORS, BOILERS, MACHINERY AND MECHANICAL AP-PLIANCES; PARTS THEREOF.
ELECTRICAL MACHINERY AND EQUIPMENT AND PARTS THEREOF
2012-13
2011-12
2010-11
2009-10
2008-09
2007-08
2006-07
2005-06
2004-05
2003-04
2003-02
0.00
1,000,000.00
2,000,000.00
3,000,000.00
4,000,000.00
5,000,000.00
6,000,000.00
7,000,000.00
8,000,000.00
ELECTRICAL MACHINERY AND EQUIPMENT AND PARTS THEREOF; SOUND RECORDERS AND RE-PRODUCERS, TELEVISION IMAGE AND SOUND RECORDERS AND REPRODUCERS,AND PARTS.
ELECTRICAL MACHINERY AND EQUIPMENT AND PARTS THEREOF; SOUND RECORDERS AND REPRODUC-ERS, TELEVISION IMAGE AND SOUND RECORDERS AND REPRODUCERS,AND PARTS.
DEVELOPMENT OF TRADE RELATIONS BETWEEN INDIA AND CHINA
• During a recent visit of Chinese premier MR Li Keqiang to India, he suggested his willingness to launch FREE TRADE ACT with India.
• The two countries have set themselves the target of increasing the investment to $ 100 billion by 2015.India wants to offer china more pharmaceuticals and IT.
• The export of buffalo meat was not allowed from India to china and this has been a long pending issue between the two countries.
• The marine products export development authority and AQSIQ also signed an MOU on co-operation for import and export of fishery products.
• An MOU was also signed between pharmaceuticals export promotion council of India and the china chamber of commerce for import and export of Medicines and health products.
BY GOVERNMENT TO HELP EXPORTERS
• Market assess to sector such as IT and Pharmacy• Stress on promoting mutual co-operation in energy
efficiency and environmental protection • Cut in freight charges• Indian handicrafts are seeing a huge market in China• Indo-China border trade
Problems faced by exporters
• Language Constraint• Price Competitiveness• Quality Standard Barriers
Future Initiatives to be taken
• Create a constructive economic and political architecture • opportunities should open up in the services sector like
finance, education, health, audit and accounting, legal practice and entertainment
• Need of mutual consensus on custom valuation, clear guidelines, uniform documentation, increase in efficiency of port and customs
• agreement should include trade in both goods and services • Harmonization of technical and agricultural standards
Future Initiatives to be taken
• Language barrier must be addressed • Pre-shipment inspection agreement to reduce Non-Tariff
barrier• China should welcome Indian companies to explore • Both the countries have already agreed to push the
bilateral trade to USD 100 billion mark by 2015
• what is needed is to become partners, instead of rivals
Group 2