India-China bilateral trade may touch $100 bn by 2013

Discussion in 'Economy & Infrastructure' started by LETHALFORCE, Nov 21, 2011.

  1. LETHALFORCE

    LETHALFORCE Moderator Moderator

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    India-China bilateral trade may touch $100 bn by 2013


    Trade between India and China is likely to achieve the $100-billion mark by 2013, two years ahead of the target set in 2009 by governments of the two countries.

    China has become India’s largest country trading partner, while the latter is attaining the position of the former’s 10th largest trade partner.

    Trade volumes reached $61.7 billion in 2010. India’s exports to China jumped 68.8 per cent to $19.6 bn last financial year from 11.6 bn in 2009-10. Overall imports also increased 41 per cent to $43.5 bn from $30.8 bn in the same period.

    Pico Event Management is organising, six concurrent China Sourcing Fairs in Mumbai during November 23-25. Tommy Wong, spokesperson of China Sourcing Fairs, said, “Indian buyers are keen to source quality products from China. To meet this growing demand, the Fairs cover a wide selection of products, which include electronics and components, hardware and building materials, security products, home products, gifts and premiums as well as bathroom products.”

    “More and more Chinese companies are interested in setting up shop in India, either directly or indirectly through alliances,” said Suresh Deora, president, India China Chamber of Commerce & Industry.

    According to Mehul Choksi, chairman of Gitanjali Gems, “We are looking at acquisition of jewellery manufacturing units or retail chains in China which can add value to us and help achieve our growth target to a Rs 50,000-crore group in five years from Rs 10,000 crore now.”

    The Associated Chambers of Commerce and Industry of India says the two can emerge as the world’s largest trading partners by 2030. Buyers in India are looking for well-made, cost-effective consumer products. For Indian exporters, China is also an attractive market for iron ore, cotton, yarn and cotton products, besides chemicals, small machinery and pharma products.

    Potential for growth exists in capital goods, machinery, infrastructure, information technology, organic chemicals, iron and steel, power, telecommunications, wind energy, food and marine products. The massive infrastructure modernisation underway in India is opening new markets for Chinese companies, especially in the telecom, machinery and power equipment sectors.
     
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  3. trackwhack

    trackwhack Tihar Jail Banned

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    Crap, need to correct that deficit. Time to bump up import duty on all Chinese engineering products.
    Thankfully, trade is still done in dollars. So there is no accumulation of any kind of debt with them unlike whats happening in China - US trade.
     
  4. cir

    cir Senior Member Senior Member

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    Very unlikely, now that China has decided to cut import of iron ore from India which,in trying to cut the already ever-widening trade deficit, would strive to reduce imports of manufactured products from China。
     
  5. cir

    cir Senior Member Senior Member

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    From a strategic point of view,China should immediately cease selling infrastructure related goods and services to India。

    India will then be compelled to pay top dollars to purchase American、 european or Japanese equipments,employ the said countries highly paid skilled personnel, and suffer the additional side effect of having the related projects completed in a much longer time span,all contributing to stretch India's limited resources。

    This can only be to China’s advantage in the long term。
     
  6. communismforindia

    communismforindia Tihar Jail Banned

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    Haha , keep dreaming, India has its own workforce, which usually is not used as cheaper alternatives are available, so I dont think any such catastrophic thing would happen .... it just seems a fantasy story
     
  7. nimo_cn

    nimo_cn Senior Member Senior Member

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    I doubt there is any other workforce cheaper than Indian workforce.
     
  8. communismforindia

    communismforindia Tihar Jail Banned

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    african ,ight be the cheapest ones.. i think
     
  9. trackwhack

    trackwhack Tihar Jail Banned

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    cir, seriously man. stop posting nonsense if you dont know whats happening.
    steel demand in china is plummeting because construction is plummeting because real estate is not getting sold because lending rates are too high and qualifying for loans are too expensive. it just happens that all this has happened in the same year that india has reduced iron ore exports by 25%. Yet total trade has jumped, both imports and exports.

    Stop citing china is not going to import iron ore from india. The fact is that you economy is going to hit a brick wall and its going to hit it pretty hard.

    1) Europe and US demand for your goods are going to plumment
    2) The recession is coming and its going to be a long one
    3) Housing in China is going to crash.

    And wait... I am not saying this. Wang Qishan, the Chinese vice-premier is saying this. Go read the newspaper, even if the only one you have access to is a state controlled Chinese one.:frusty: China has decided to cut import of Iron ore from India, my ass!!
     
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  10. Bangalorean

    Bangalorean Stars and Ambassadors Stars and Ambassadors

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    Just what I was going to type!! You took the words away...

    It is all basically related to the real estate slowdown (impending bust?) in China. Trying to make a virtue out of necessity, the Chinese way. :pound:
     
    Last edited: Nov 21, 2011
  11. satish007

    satish007 Senior Member Senior Member

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    afterican may be cheaper, but Indian and Chinese are more reliable.
     

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