According to Bloomberg's report on October 16, Indian Finance Minister Nirmala Sitharaman speculated on Friday that the imbalance in trade between India and China is becoming more serious due to Beijing's non-tariff barriers that continuously restrict Indian products from entering the Chinese market.
During a meeting with the International Monetary Fund in Bangkok, Sitharaman said in an interview with the American think tank Atlantic Council: 'I believe that we are in a deficit position in trade with China, and this deficit is growing exponentially.'
She used a trick of deflecting accusations. "China did not hesitate in using non-tariff barriers," this is the biggest obstacle for trade between China and India.
Sitara Man claims that the trade barriers faced by Indian exporters include plant quarantine regulations, which are measures designed to prevent plant pests and diseases. She states that China refuses to open its market to Indian goods, including generic drugs, beef, and vegetables, products she believes have “great” potential in the Chinese mainland market.
Since the beginning of this year, India’s trade deficit with China has exceeded $100 billion. However, Sitharaman stated that India does not seek to retaliate by implementing non-tariff barriers or imposing countervailing duties. Just before Sitharaman made these remarks, Indian Foreign Minister Sujata Rao also claimed earlier this week that India “has not received a fair competitive environment” in the Chinese market.
Regarding this, Mao Ning, a spokesperson for the Chinese Ministry of Foreign Affairs, stated that China never deliberately pursues a trade surplus. China is willing to work with India to address their respective economic and trade concerns in a balanced manner, thereby promoting the sustainable development of bilateral relations.
