India’s exports to China set to touch record high as market access widens
India’s export to China is expected to reach an all-time high this fiscal with the US-China trade spat creating new opportunities for exporters and Beijing removing some trade barriers in its effort to check the growing bilateral trade imbalance.
The growth is driven by marine products, organic chemicals, plastics, petroleum products, grapes and rice, according to an official release of the Commerce Ministry.
India’s exports to China have grown after several years. India is poised to achieve its highest ever exports to the country this fiscal. Between April and December 2018, exports were $12.7 billion which is closer to last year’s exports of $13.33 billion, the release said.
New Delhi, however, believes that more efforts are required for greater market penetration in China. India is hopeful of soon signing protocols for export of Indian soyabean meals, cakes and pomegranates to China in the near future, as these are in advanced stages of discussion, the release added.