India open to essential Chinese imports while focusing on export expansion to China and ASEAN markets: Goyal

Union Commerce and Industry Minister Mr Piyush Goyal has said that India remains pragmatic about accepting essential Chinese industrial imports required for domestic manufacturing, provided it secures reciprocal market access to boost Indian exports to China and the broader ASEAN region. Speaking on international trade dynamics, he emphasised that while New Delhi maintains strict strategic guardrails against unfair dumping and security vulnerabilities, balancing trade flows and lowering tariff and non-tariff barriers across Asian neighbours is vital for industrial growth. Trade analysts note that domestic manufacturers heavily reliant on imported intermediate goods, electronics components and capital machinery stand to benefit from a calibrated import approach. At the same time, the government is aggressively pursuing export-led expansion into Southeast Asian markets to narrow persistent trade deficits and integrate Indian supply chains more deeply into regional production networks, said a report.

Please visit our youtube channel https://www.youtube.com/@ikargosindia for fortnightly logistics news analysis and more!