India, China hold talks on providing market access to domestic products

By: |
New Delhi | January 28, 2019 3:25 PM

The meeting was held last week in Beijing between Commerce Secretary Anup Wadhawan and Vice-Minister of General Administration of China Customs (GACC) Zhang Jiwen.

india china ties, domestic products, beijing, basmati rice export, fish oil exportGACC has also approved six Indian mills for export of rapeseed meal to China, it added. (IE)

India and China have held wide ranging discussions on various issues, including providing market access to domestic products in the neighbouring country, the commerce ministry said Monday. The meeting was held last week in Beijing between Commerce Secretary Anup Wadhawan and Vice-Minister of General Administration of China Customs (GACC) Zhang Jiwen. Both the countries have signed a protocol for exporting non-basmati rice, fish meal and fish oil to China, it said.

GACC has also approved six Indian mills for export of rapeseed meal to China, it added. Both the nations have also inked a protocol to export Indian tobacco leaves to China, which is the largest consumer and producer of tobacco with over 350 million smokers – the world’s highest.

Also read| New NITI Aayog: How Vijay Kelkar’s proposed NITI 2.0 will be different from Planning Commission

These developments assume significance as India wants to increase exports to China with a view to bridge the ballooning trade deficit, which has increased to USD 63.12 billion in 2017-18 from USD 51.08 billion in the previous fiscal.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1India’s power consumption grows nearly 47% in first week of April
2No backdate entries, recovery cases, more return filing, others help tax officers to up GST collection
3India needs to grow faster to make up for contraction during COVID-19 pandemic: IMF