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India china trade relation
 

India china trade relation

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    India china trade relation India china trade relation Presentation Transcript

    • 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 0.00 500,000.00 1,000,000.00 1,500,000.00 2,000,000.00 2,500,000.00 2012-13 2011-12 2010-11 2009-10 2008-09 2007-08 2006-07 2005-06 2004-05 2003-04 2003-02 COTTON COTTON
    • COPPER AND ARTICLES THEREOF 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 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 2012-13 2011-12 2010-11 2009-10 2008-09 2007-08 2006-07 2005-06 2004-05 2003-04 2003-02 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 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 2012-132011-122010-112009-102008-092007-082006-072005-062004-052003-042003-02 ORGANIC CHEMICALS ORGANIC CHEMICALS
    • NUCLEAR REACTORS, BOILERS; PARTS THEREOF. 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 MECHANICALAPPLIANCES; PARTS THEREOF. NUCLEAR REACTORS, BOILERS, MACHINERY AND MECHANICAL APPLIANCES; PARTS THEREOF.
    • ELECTRICAL MACHINERY AND EQUIPMENT AND PARTS THEREOF 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 REPRODUCERS, TELEVISION IMAGE AND SOUND RECORDERS AND REPRODUCERS,AND PARTS. ELECTRICAL MACHINERY AND EQUIPMENT AND PARTS THEREOF; SOUND RECORDERS AND REPRODUCERS, 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