Mains Paper 2: IR | India and its neighborhood- relations.
From UPSC perspective, the following things are important:
Prelims level: What is trade deficit?
Mains level: Important initiative to look after India’s concerns on the Trade Deficit, with China.
High-level official team is visiting India
- China has agreed to send a high-level official team led by Commerce Minister to address the issue of growing trade imbalance with India
- The development could be termed a breakthrough for India which is facing goods trade deficit with China
Decision came while Military tension between the two countries
- The China is keen to ensure that trade with India is not adversely affected by the prevailing military tension
- In case of a full-fledged ‘trade war,’ China will have much to lose with its goods exports to India in 2016-17 valued at a whopping $61.3 billion
- While India’s shipments worth just $10.2 billion to China