You account for just 2% of exports: China

Amid talks about boycott of Chinese goods in India, China warned India that such a boycott would not just affect Chinese investments in India but also bilateral cooperation between the two countries.
In a statement, the Chinese embassy said India's boycott of Chinese goods will not have much impact on China as India accounted for only 2% of all Chinese exports in 2015 which were worth $2,276.5 billion.
The Chinese statement was made in the context of media reports that local sellers in Sadar Bazaar, the largest wholesale market of household items in India, had complained about sale of Chinese goods dropping by 20%.It took note of the fact that the boycott would not be limited to Diwali related products. The statement recalled how bilateral trade had grown 24 times in 15 years, from $2.9 billion in 2000 to $71.6 billion in 2015. China has become India's largest trading partner, source of imports and fourth largest export market. India is also China's largest trading partner in South Asia and ninth largest export market in the world. Apex traders body Confederation of All India Traders recently said the sale of Chinese products may decline by 30% this Diwali.
According to the statement, the distinct features of China-India trade are mutual benefits and growing interdependence, which contributes to the full use of factors of production and maximization of the benefits to all the people. “In 2015, China has imported 2 billion dollars worth of cotton and more than 100 million dollars worth of black tea from India, bringing benefits to 1.2 million cotton growers and 50,000 tea farmers and sellers in India. “ Chinese products not only lowered India's inflation rate, but also fulfilled Indian ordinary people, especially the low-income people's daily needs, greatly improving their life quality,“ the statement said.

1 comment:

dpirsm said...

thats a powerful statement from them...