India’s maritime exports risk damaged as China imposes non-tariff barriers

0


[ad_1]

Outgoing seafood shipments from India face non-tariff barriers in China, raising concerns for Indian exporters, people familiar with the issue said.

“China has a system of exams in place that does not exist anywhere else in the world. In addition, the time (taken) to test the products has also increased significantly, causing a delay in the clearance of shipments. It also resulted in product damage, ”one of the people said.

In the past, China had temporarily halted imports from India due to concerns over Covid-19. “This issue is resolved now and the cases in India have also declined sharply,” they said.

According to a press report, Indian authorities have sought to engage with Chinese authorities to find ways to bridge the huge trade balance that is tilting in Beijing’s favor.

Last week, Foreign Minister Harsh Vardhan Shringla said that although trade between India and China continues to expand, it remains “imbalanced” and tilts in favor of China. With a deficit of $ 47 billion in the first nine months of this year, it is the largest India has with any country.

Bilateral trade between India and China in the first nine months of 2021 increased 49% year-on-year to $ 90 billion. Last year, the total volume of trade between the two countries was around $ 88 billion.

He also said that there are a number of market access barriers, including a multitude of non-tariff barriers, for most Indian agricultural products, as well as sectors in which India is competitive. , such as pharmaceuticals and information technology. However, India has expressed concerns about the widening deficit and increasing trade barriers to the highest level.

Without naming a country, Trade and Industry Minister Piyush Goyal also said last week that it was necessary to address the problems posed by non-tariff barriers in international trade.

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting-edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor

[ad_2]

Share.

About Author

Comments are closed.