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Press Information Bureau
Government of India
Ministry of Commerce & Industry
12-December-2011 16:00 IST
Government has not made any study regarding dependency of Indian Manufacturing Sector on imports from China. Government, however, has been conscious of widening trade deficit with China.
Government has made concerted efforts to improve the rate of growth of manufacturing sector and making it globally competitive. Some of the measures, which have been taken to improve the competitiveness of domestic industry among, others include creation of world class infrastructure, promotion and facilitation of industrial investment including the foreign direct investment, improvement in business environment; development of industry relevant skills etc.
India’s trade with China and its share as percentage to India’s global trade in the current year so far and preceding two years is indicated in the table below:
(in US$ Billion)
World Trade | Trade with China | |||||||
Year | Export | Import | Trade balance | Export | Import | Trade balance | %of total Indian export | %of total Indian import |
2009-2010 | 178.8 | 288.4 | -109.6 | 11.6 | 30.8 | -19.2 | 6.5 | 10.7 |
2010-11 | 252.3 | 346.9 | -94.6 | 19.4 | 39.8 | -20.5 | 7.7 | 11.5 |
2011-2012 (Apr-Jul) | 111.2 | 158.0 | -46.8 | 5.6 | 18.2 | -12.6 | 5.1 | 11.5 |
Information regarding profit made by China in trade with India is not maintained.
Government has been taking initiatives to make Indian industry globally competitive so that trade and current account deficits are maintained at sustainable levels. As a WTO member, India can also impose antidumping or safe guard duty on products imported from any country that are either dumped in Indian market or threaten India’s domestic industry with injury.
This information was given by Shri Jyotiraditya M Scindia, Minister of State for Commerce and Industry, in a written reply in the Lok Sabha today.
DS/GK
Antidumping and safeguard duties can be applied to imports threatening domestic industry, reaffirming trade-defense authority. Government reports no formal study on dependency of Indian manufacturing on imports from China, notes a widening trade deficit and recent bilateral trade figures, and describes measures to enhance manufacturing competitiveness-including infrastructure development, facilitation of industrial investment and skills development. It reiterates that, as a WTO member, India may impose antidumping or safeguard duty on dumped imports or imports threatening domestic industry. of Press 'Enter' after typing page number.
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