With the US effectively shutting its doors, the fear is that a cornered China will dump even more aggressively and flood other markets. India must brace for impact.
The World Bank has urged India to reconsider its position on RCEP. Worries about China’s overcapacity and India’s struggles with previous FTAs had led to its withdrawal in 2019.
PM Modi has sought to incentivise manufacturing in India through PLI schemes, but the components have come mainly from China, with Indian companies only engaged in assembling.
India has reasons to achieve pragmatic economic exchanges, as articulated in the Economic Survey—the inescapability of Chinese supply chains, the ineffectiveness of tariffs, and India’s dependence on Chinese imports for its manufacturing sector.
Over past 3 years, commerce ministry data on bilateral trade with China has hovered around $95 bn. Data from Chinese govt over last 3 fiscals shows figures steadily above $110 bn.
In his article, Zhang Jiadong, director of the Center for South Asian Studies at Fudan University, discusses India’s shift towards a ‘great power strategy’ under Modi.
In the first eight months of the current fiscal year, New Delhi’s net tax intake didn’t even hit the halfway mark of what it expects to collect by March 31.
As Visakhapatnam readies a mega airport, the Andhra Pradesh government has revived its shelved Dagadarthi project, aiming to boost cargo and connectivity on the south coast.
While both India and China have carried out disengagement in Eastern Ladakh, the process of de-escalation is still under discussion & has not been agreed upon.
UK, EFTA already in the bag and EU on the way, many members of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
Refusal to accept ‘dumps’ makes poor Indians to spend much more because of reduced competition, overpriced products. To save a few inefficient businesses, govt makes all Indians suffer. It is painful to know that Mohandas Gandhi made poor Indians burn cheap Western clothes and use costlier Indian clothes. He satisfied is ego by stamping on the stomachs of poor Indians.
Refusal to accept ‘dumps’ makes poor Indians to spend much more because of reduced competition, overpriced products. To save a few inefficient businesses, govt makes all Indians suffer. It is painful to know that Mohandas Gandhi made poor Indians burn cheap Western clothes and use costlier Indian clothes. He satisfied is ego by stamping on the stomachs of poor Indians.