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India Today
a day ago
- Business
- India Today
Wang Yi in Delhi: Border talks resume as India's trade deficit with China nears $100 billion
Chinese Foreign Minister Wang Yi's arrival in New Delhi on Monday marks the first visit by a top Chinese diplomat since the deadly Galwan Valley clashes in June 2020. His two-day trip will include holding the 24th round of Special Representative talks on the border question with National Security Adviser Ajit is scheduled to meet External Affairs Minister S Jaishankar on Monday evening before he meets with Doval on Tuesday morning. He will later call on Prime Minister Narendra visit is expected to help prepare the ground for Modi's trip to China for the Shanghai Cooperation Organisation Summit in Tianjin at the end of the month. The revival of the border dialogue shows a mutual recognition of the need to ease tensions along the 3,488-kilometre Line of Actual Control (LAC). The meetings will have a broad agenda, including the border situation, trade ties and the possible resumption of flight services between the two countries. However, the trade numbers paint a different picture: India's trade deficit with China ballooned to an unprecedented $99.2 billion in 2024–25, highlighting the economic imbalance between the two data shows India's imports from China surged to $113.5 billion in 2024–25, rising by more than 25 per cent in March alone. Electrical machinery and electronic equipment, including TV and sound recorders, topped the import basket with a value of $38 billion. Imports of iron and steel, their finished products, and aluminium articles highlight India's manufacturing sector's dependence on Chinese on the other hand, have faltered. India shipped just $14.3 billion worth of goods to China in 2024–25, a 14.5 per cent fall from the previous year. Iron ore exports nearly halved, while commodities such as spices and organic chemicals added limited bilateral trade at $127.7 billion, China is India's largest trading partner after the United States. However, unlike the US, with which India enjoys a modest trade surplus, the trade imbalance with China is one of India's sharpest trade deficits. The gap could widen further due to recent developments in US trade policy. President Donald Trump announced a 50 per cent tariff hike on Indian goods from August 27, while granting a temporary 90-day pause on further tariff hikes in its standoff with warn that if the US imposes higher tariffs on China, Chinese exporters could divert their surplus goods to markets like India, which could further widen the trade address this, New Delhi has started protective trade measures with the imposition of anti-dumping duties ranging from 27 to 63 per cent on various products, including vacuum flasks, aluminium foil and plastic processing machines from China and Taiwan. These steps are aimed at protecting domestic industries from cheaper imports.- EndsTune InMust Watch
India Today
08-08-2025
- Business
- India Today
No call on cancelling India-US defence deal after tariff hike: Sources
3:17 Ahead of Prime Minister Narendra Modi's visit to China for the Shanghai Cooperation Organisation Summit, China's foreign ministry welcomed the Prime Minister, stating that the Tianjin Summit is anticipated to be a gathering of solidarity, friendship, and fruitful results.
Time of India
23-07-2025
- Business
- Time of India
India to resume issuance of tourist visas to Chinese after 5-year hiatus
India said it will issue tourist visas to Chinese citizens from July 24, five years after it suspended the process, as the neighbouring nations seek to improve people-to-people ties amid decreasing border tensions. Chinese citizens can apply for a tourist visa to India by filling out an online application, scheduling an appointment and personally submitting their passport and other required documents to the Indian Visa Application Centres in Beijing, Shanghai and Guangzhou, the Embassy of India in China said in a statement Wednesday. Sources indicated that a vigil will be maintained so that the tourist visas are not misused. India had suspended all tourist visas in early 2020 in a bid to contain the spread of Covid-19. While New Delhi lifted restrictions on tourists from other countries as concerns over the pandemic eased, it did not resume issuing tourist visas to Chinese nationals as bilateral relations soured after the 2020 clashes in Ladakh's Galwan valley. The move now to resume the process comes ahead of Prime Minister Narendra Modi's proposed visit to China for the Shanghai Cooperation Organisation Summit early September. It also comes ahead of a plan to restart direct flights between the two countries. Explore courses from Top Institutes in Please select course: Select a Course Category Technology MCA Artificial Intelligence MBA Digital Marketing Public Policy Data Science Project Management Leadership Healthcare Data Science Management healthcare PGDM Finance others Others Operations Management Product Management Data Analytics Cybersecurity CXO Degree Design Thinking Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details Responding to the visa resumption, China said, "We take note of India's resumption of tourist visas for Chinese citizens. This is a positive move. Easing cross-border travel is widely beneficial. China will maintain communication & consultation with India to further facilitate travel between the two countries." Earlier this month, external affairs minister S Jaishankar met his Chinese counterpart Wang Yi in Beijing and raised the issue of restrictive trade measures and roadblocks to economic cooperation in the backdrop of restrictions on rare earth magnet supplies to India. He also brought up the issue of faster de-escalation along the Line of Actual Control in eastern Ladakh and the two sides agreed to take additional practical steps, including travel to each other's country and direct flight connectivity. Earlier this year, India and China explored ways to rebuild ties and agreed to initiate efforts to promote people-to-people exchanges, including resumption of the Kailash Manasarovar Yatra this year. Live Events
