India pitches for auto components export to China

Discussion in 'Economy & Infrastructure' started by Srinivas_K, Dec 17, 2014.

  1. Srinivas_K

    Srinivas_K Senior Member Senior Member

    Joined:
    Jun 17, 2009
    Messages:
    4,674
    Likes Received:
    3,347
    India pitches for auto components export to China

    BEIJING: India today made a twin pitch to boost its exports of components to the world's largest auto market China, showcasing some of its prime products, and for Chinese investments for the fast developing industrial-auto clusters in various Indian cities.

    A 23-member delegation of the Automotive Component Manufacturers Association of India (ACMA), which included top firms in the business, conducted a Tech Expo to showcase quality products from India to serve the Chinese market.

    Their visit here has taken place in the backdrop of a study conducted by the ACMA highlighting a trade deficit in auto sector which has grown substantially to $ 2.8 billion last year in favour of China.

    India's exports in the sector remained limited at few hundred million dollars.

    Calling for more Chinese investments in the auto sector, India's Ambassador to China Ashok K Kantha told a India-China seminar on auto components that the overall trade deficit in India-China exceeds $ 35 billion in the total trade of about $ 66.44 billion.

    Such a trade deficit is no longer sustainable, he said. Greater investments from China could be important driver of growth and pointed to the decision by China to set up two industrial parks with an investment of $ 20 billion.

    While calling for more opportunities for exports to China ACMA officials such as Deep Kapuria, Chairman, Globalisation and Past President of ACMA expressed concern over cheap Chinese products flooding the Indian retail market.

    ACMA released a study of consumers' buying behaviour, the market characteristics, the general macro-economic conditions, competitiveness of the Chinese auto components at the seminar held at the Indian Embassy today.

    The study has been conducted with Avalon Consulting.

    India pitches for auto components export to China - The Economic Times

    For long Indians are ridiculed by online chinese as if they are miles ahead in manufacturing and technology, Those days are over as the gap between the two countries will be closed quickly.
     
  2.  
  3. CCP

    CCP Senior Member Senior Member

    Joined:
    Jan 19, 2014
    Messages:
    1,204
    Likes Received:
    193
    Location:
    school
    "Calling for more Chinese investments in the auto sector, India's Ambassador to China Ashok K Kantha told a India-China seminar on auto components that the overall trade deficit in India-China exceeds $ 35 billion in the total trade of about $ 66.44 billion. "




    How can gap closed and "quickly" . FYI, India never grow as faster as China.

    PS. I know you will say that can happen in future.
     
    Last edited: Dec 18, 2014
  4. pmaitra

    pmaitra Moderator Moderator

    Joined:
    Mar 10, 2009
    Messages:
    31,640
    Likes Received:
    17,120
    Location:
    EST, USA
    I have always been an advocate of restricting raw materials export from India and insisting on exporting manufactured goods. Of course, many people's livelihood depends on raw materials export, so it might not be a great idea to stop it abruptly. This is a good move. It is time to export more finished products to PRC so as to bring the trade to an even keel.
     
    TrueSpirit1 likes this.
  5. Srinivas_K

    Srinivas_K Senior Member Senior Member

    Joined:
    Jun 17, 2009
    Messages:
    4,674
    Likes Received:
    3,347
    Answer is in your PS !!
     

Share This Page