India participates in China's 1st International Import expo to boost bilateral trade

Posted by Daily Shipping Times on 06-11-2018        Tweet

NEW DELHI: India will participate in China’s first international import expo in Shanghai as part of its efforts to reduce the over USD 51 billion trade deficit with the neighbouring nation, Indian officials said here. The six-day China International Import Expo (CIIE) was inaugurated on 5th Nov by Chinese President Xi Jinping. An Indian delegation led by Commerce Secretary Anup Wadhawan has arrived in Shanghai to take part in the event, officials said.

The Federation of Indian Export Organisations (FIEO) along with relevant government agencies has built India pavilion at the expo, which is billed as the biggest event organised by China, the world’s largest exporter, to showcase opportunities.

Chinese official media says the scope of imports could be over a USD trillion dollars.

The expo is being held amid China’s trade war with the US, which slapped additional tariffs on Chinese goods worth about USD 250 billion, demanding Beijing to bring down the trade deficit amounting to USD 375 billion. China had retaliated with counter tariffs.

The Consul General of India’s Consulate in Shanghai, Anil Kumar Rai, said the expo will enable India to showcase products in the areas in which it is strong.