China's trade interests to check further aggression: ASSOCHAM - Times of India

The author has posted comments on this articleTNN | Apr 28, 2013, 05.35AM IST NEW DELHI: As China has huge business interest in India, association of chambers of industries, ASSOCHAM said, it is unlikely that China will pursue its border dispute so aggressively with India that it resulted into harming its business and trade relation with India. The chamber in a statement said, the trade balance is hugely tilted towards China. In the first 11 months of 2012-13, China exported merchandise goods worth $50 billion to India. As against this, India's merchandise goods export to China is only $ 12.41 billion. For the fiscal 2012-13 as a whole while exports from China to India may well exceed $57 billion while India's exports to China may not exceed $ 14 billion. Therefore, trade surplus in favour of China may touch $ 43 billion. "At a time when Chinese economy, like most other economies of the world, is slowing, its exports to India would be of vital interest to China," ASSOCHAM commented. Without suggesting that India should strain its ties with China, ASSOCHAM said, "It is in the best interest of the two neighbourly countries that their relations improve and are cemented through expanding commercial engagement.'' It said, ASSOCHAM is looking forward to the visit of Chinese Premier next month and is confident that the two countries would be able to resolve their strategic differences, including that of the border. Electronics, machinery, precious pearls and other commodities are the principal items of import from China. When it comes to exports, main items which are shipped to China are petroleum products, transport equipment, machinery and drugs and pharmaceuticals. "Net-net, it is more in the interest of the Chinese to stay commercially engaged maintaining the best of strategic and political relations," Assocham added. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNF2oKpU9RXnHIhB1OI1hTuCJqZHNA&url=http://timesofindia.indiatimes.com/business/international-business/Chinas-trade-interests-to-check-further-aggression-ASSOCHAM/articleshow/19762444.cms

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