Union Finance Minister Nirmala Sitharaman (Image Source: X/Finance Ministry)
\n\nUnion Finance Minister Nirmala Sitharaman has identified non-tariff barriers as the biggest hurdle in India’s trade relationship with China, warning that restricted access to the Chinese market continues to widen the trade imbalance between the two countries. Speaking at a session with Michael Kugelman of the Atlantic Council on ‘India’s economic edge’, held alongside the World Bank-IMF Annual Meetings in Bangkok, Thailand, Sitharaman said India has consistently raised concerns over the difficulties faced by its exporters. She also stressed that New Delhi prefers negotiations and dialogue over retaliatory trade measures to address such imbalances.
\n\nAddressing the challenges in bilateral trade, the Finance Minister said, “So non-tariff barriers are the biggest hurdle in the trade between India and China. That is one, and second, if the approach globally that you see today, where imbalance is huge, countries impose tariffs and say, ‘no, we cannot sustain this imbalance, either you correct it or else we are going to be very punitive on you’, that approach we have never taken.”
\n\nSitharaman said the trade relationship continues to be tilted against India, with the imbalance expanding despite years of discussions between the two countries.
\n\n“The…
Original source: https://www.timesnownews.com/business-economy
