Steps Taken to Improve Balance of Trade

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Based on the applications filed by the domestic industry (DI) for imposition of anti-dumping duty on imports from various countries including China PR, Indonesia, Malaysia, Thailand etc. Directorate General of Anti-dumping & Allied Duties (DGAD) initiated anti-dumping investigations on imports from various countries.

From time to time, DGAD receives applications from domestic producers for imposition of anti-dumping duty on various products. After detailed investigations, preliminary/final findings are issued by DGAD based on which, Department of Revenue imposes provisional/definitive anti-dumping duties.

Details of the trade deficit with China during the last three years and the current year upto April 2017 are given below:-

Bilateral Trade between India and China 

Value in US$ Billion

S.No. Financial Year Trade Deficit with China
1. 2014-15 48.47
2. 2015-16 52.69
3. 2016-17 51.08
4. 2017-18 (April, 2017)* 4.92

(Source: DGCI&S)    *Provisional

Efforts are being made to increase overall exports by diversifying the trade basket with emphasis on manufactured goods, services, resolution of market access issues and other non-tariff barriers.

This is done through bilateral meetings and institutional dialogues. Indian exporters are encouraged to participate in major trade fairs in China to show-case Indian products.

Further, many measures have been taken to overcome the overall trade deficit. These include implementation of Merchandise Exports from India Scheme (MEIS) and Services Exports from India Scheme (SEIS), implementation of NiryatBandhu Scheme, Single Window Interface for Facilitating Trade (SWIFT) clearance project as part of ‘Ease of doing Business’, Interest Equalization Scheme in pre and post shipment credit, Special Advance Authorization Scheme, Trade Infrastructure for Export Promotion (TIES) Scheme etc.

The Foreign Trade Data Dashboard-Trade Analytics has been launched on 10.10.2016. It aims at providing easy access to India’s export/import and balance of trade data in visual analytic format to all the stakeholders including public. It provides an overview of India’s trade dynamics for last five years.

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