[New Delhi]Trade Facing Challenges Globally ,India Needs to Boost Exports:Prabhu
Commerce Minister Suresh Prabhu said that The world is facing serious challenges as the US is taking protectionist measures and India needs to explore ways to boost exports,.
He said the US is taking “very strong” measures against all its major trading partners including China.
The comments came amid US President Donald Trump imposing USD 60 billion of tariffs on Chinese imports, and also increasing import tariff on steel and aluminium in case of India.
Yesterday, President Trump imposed USD 60 billion of tariffs on Chinese imports, a move that could escalate the already tense trade relations between the world’s two biggest economies.
The minister further said the government is taking steps to promote shipments.
“All must take steps to promote exports..We are trying to explore new markets and products by doing market research,” He was attending a function . While interecting with Media Prabhu said India is meeting leaders of some African countries to promote exports in the region
Tag: Commerce and Industries Minister
Trade Facing Challenges Globally,India Needs to Boost Exports:Prabhu
Nirmala Discusses Trade Deficits With Chinese Shouwen
[New Delhi]Nirmala Discusses Trade Deficits With Shouwen And Demands Market Access for Indian Goods in the Chinese Markets.
In a Bilateral Meeting , Commerce and Industries Minister, Mrs Nirmala Sitharaman and Wang Shouwen, Vice Minister for Ministry of Finance and Commerce, China exchanged notes on trade and commerce and agreed that the mounting bilateral trade deficit has been a cause for concern for India which seeks greater market access for its goods for a long term sustainable trade relationship.
Commerce Minister requested for expeditious clearances for import of Indian Rice and a ‘Green Channel’ for import of Indian Pharmaceutical products to China – especially those which already have USFDA and EUFDA accreditation.
She also requested the Chinese Vice minister to consider demonstration IT/ITeS projects for Indian companies – which have acquired global acclaim.
She expressed concerns at the long drawn procedures for clearances which tend to frustrate the Indian companies seeking business opportunities in China.
Smt. Sitharaman requested for ‘buying missions’ to India to source amongst other things, Indian Tobacco and oil meals.
The two leaders in consonance with the apex level meetings convened by the Prime Minister Mr Modi and Mr Xi Jinping, agreed that measures on providing greater market access for Indian goods and services in China need a demonstrative action.
The Chines Vice Minister assured that China would act on the concerns expressed by India regarding market access for Indian goods in the Chinese markets.
He informed that recently China has quickened the pace of granting clearances to Indian Pharma companies for import of Indian Pharma products.
The Chinese Vice Minister further requested the cooperation of India in the various multilateral fora where China and India are engaged – the RCEP and assured that India’s concerns on a ‘Single undertaking’ will be duly taken on board with services being an integral part of the cooperation agreement.
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