Times of India | 14 Jan 2008
Chinese exports to India rising fast
NEW DELHI: India Inc may have got some ammunition to ward off a free trade agreement with China. A study has revealed a steep growth in major manufactured good imports from China.
“India’s imports from China have increased by over eight and a half times since 2001-02, whereas its total imports increased by only three and a half times between 2001-07,” FICCI said. This has increased China’s share in India’s imports from around 4% in 2001-02 to 9.4% in 2006-07, whereas India’s share in Chinese overall imports continues to be insignificant at 1.3%.
This study comes even as the Prime Minister is in China, and with China pushing for a free trade agreement, which India Inc is reluctant to enter into.
According to the study ‘Rising Chinese Imports to India’, top items of import from China witnessed phenomenally higher growth rate than the growth of overall import of these items by India in the last six years.