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Trade Imbalance
March 29 , 2018
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- The eleventh session of the China-India joint-group on Economic Relations, Trade, Science & Technology was held recently in New Delhi.
- The session was co-chaired by the Union Minister of Commerce & Industry, Suresh Prabhu and the Minister of Commerce of the People’s Republic of China, Mr. Zhong Shan.
- Both countries agreed to continue to take forward initiatives identified in 5 Year Development Programme for Economic and Trade Cooperation (DPETC) signed in September 2014.
- India has emerged as the seventh largest export destination for Chinese products, and the 24th largest exporter to China.
- India and China are the largest emerging economies of world with 35% of the world’s population and around 20% of the world’s GDP
- But the relative volume of bilateral trade is less than 1% of global trade.
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