Imports from China rising fast: FICCI

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Imports from China have increased at a much faster pace than those from India's other trading partners, even as the two countries are seriously considering a market-enlarging Regional Trade Agreement, industry body FICCI has said.

Discussions are likely during Prime Minister Manmohan Singh's three-day visit to China from today on regional trade pact. Commerce Minister Kamal Nath is already in Beijing holding discussions with his Chinese counterpart.

"India's imports from China have increased over eight-fold since 2001-02 whereas increase in our imports from the world was only three-fold during the same period," FICCI said.

This has increased China's share in India's imports from around four per cent in 2001-02 to 9.4 per cent in 2006-07, while India's share in Chinese world imports continues to be an insignificant 1.3 per cent, it said.

According to a FICCI study, import of air-conditioners from China has grown by 120 per cent since 2001-02 while India's total import of the item from the world grew by 39 per cent per annum.

Similarly, import of transmission apparatus from China grew by 174 per cent during the last six years while those from other countries grew by 74 per cent.

Two-way trade between the two neighbours stood at 24.86 billion dollars in 2006 and grew 50 per cent during January-June 2007 to 17.19 billion dollars.

Imports of knitting machines from China grew by 143 per cent whereas India's total imports of the machines from the world grew by 49 per cent, the study said.