International Journal of Academic Research and Development

International Journal of Academic Research and Development


International Journal of Academic Research and Development
International Journal of Academic Research and Development
Vol. 3, Issue 6 (2018)

India-China trade relations: An overview


B Sravanakumar, BV Muralidhar

China - India trade relations are the most important part of bilateral relations between India and China. From a temporary decline in the influx of Chinese imports in the Indian markets, the scenario seems to have changed - India is enjoying a positive balance of trade with China. The China-India trade relations are regulated by the India-China Joint Business Council, which ensures a free exchange of products and services between the two countries. India and China signed a Trade Agreement in 1984 which provided for Most Favoured Nation Treatment and later in 1994, the two countries signed an agreement to avoid double taxation. Indian exports to China are ores, ash, iron and organic chemicals, etc. Chinese exports to India are electrical machinery and equipment, nuclear reactors and oils, etc. Booming bilateral trade has come to be the strongest pillar of India-China rapprochement. In this new context, the increasing deficit in the energy sector and the competition to capture new markets present major challenges to sustaining this boom in their bilateral trade. It remains India's largest import source and its third-largest export destination. Both countries signed an agreement in September 2014 to achieve bilateral trade balance by 2019.
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How to cite this article:
B Sravanakumar, BV Muralidhar. India-China trade relations: An overview. International Journal of Academic Research and Development, Volume 3, Issue 6, 2018, Pages 24-26
International Journal of Academic Research and Development International Journal of Academic Research and Development