By TIOL News Service

NEW DELHI, AUG 15, 2013: INDIA and China have signed Agreements to promote Indian exports to China during the visit of Premier Mr. Li Keqiang to India in May 2013. Details are as follows:

(i) MoU for the Export of Buffalo Meat from India to China entered into between the Agricultural and Processed Food Products Export Development Authority (APEDA) and the General Administration of Quality Supervision, Inspection and Quarantine of the People's Republic of China (AQSIQ)

(ii) MoU on Cooperation Related to Import and Export Trade of Fishery Products entered into between the Marine Products Export Development Authority (MPEDA) and AQSIQ

(iii) Agreement on Trade and Safety of Feed and Feed Ingredients entered into between the Export Inspection Council of India (EIC) and AQSIQ

(iv) MoU between the China Chamber of Commerce for Import and Export of Medicines and Health Products (CCCMHPIE)and Pharmaceuticals Export Promotion Council of India ( Pharmexcil ) for co-operation on Pharma .

Details of import-export and trade deficit with China during last three years are given below:-

Table-1: Trade & Trade Deficit Statistics between India and China

(P)Provisional ( Source; DGCI&S)

Major items of Indian exports to China include cotton raw & yarn, non-ferrous metals, iron ore, other ores and minerals, plastic products, spices, Dyes/intermediates, machinery & instruments and petroleum (crude & products). Major imports from China include electronic goods, machinery, organic chemicals, project goods, fertilizers, iron and steel, transport equipments, electric machinery (except electronics) and manufactures of metals.

With the implementation of the above MoUs , export of buffalo meat, and feed and feed ingredients to China are expected to benefit. With the operationalization of the MoU on co-operation on Pharma between CCCMHPIE and the Pharmexcil, Indian generic drugs are expected to get market access in China.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Dr. D. Purandeswari in a written reply in the Rajya Sabha yesterday.