India is participating in China's first International Import expo in Shanghai that starts today as part of its efforts to cut the over USD 51 billion trade deficit with the neighboring country, Indian officials said. Leaders from 18 countries, including Pakistan Prime Minister Imran Khan will participate in the six-day mega event, which is aimed at exhibiting China's import potential.
Officials further told that the Indian delegation led by Commerce Secretary Anup Wadhawan has already reached Shanghai. Counsellor Economic and Commerce of the Indian Embassy Prashant Lokhande said, "India has built a pavilion at the expo highlighting its focus areas of agricultural products, pharmaceuticals, information technology, and tourism".
It must be noted that the mega expo is being held amid Beijing’s trade war with Washington, which has slapped extra tariffs on Chinese goods worth USD 250 billion, demanding the country to bring down the trade deficit amounting to USD 375 billion. China in response has hit back with counter tariffs. India also has been asking China to take measures to bring down over USD 51 billion yearly trade deficits and this was one of the main focus areas during Prime Minister Narendra Modi’s meeting with Chinese President Xi Jinping at Wuhan earlier this year.
Since then the two leaders held several talks for India to export its agricultural products like rice and sugar as well as pharmaceuticals and IT sector in which the country has upper hand in the global exports.
According to sources, around 82 countries and 3 international organisations will set up 71 booths at China’s pavilions, covering an area of about 30,000 square metres. Additionally, 12 countries that include Pakistan, Russia, Brazil, Egypt, Canada, Indonesia, Germany, Hungary, Mexico, South Africa, UK and Vietnam will be the ‘Guest of Honour’ at the event.
