New Delhi, April 21 (PTI) India should deal with China and the US under the same conditions and engagement should be conducted by its strategic autonomy, economic interest and principles of global trade, not external pressure, Think -tank Gtri said on Monday.
These notes came against the background of the Chinese warning that it would accept the countermeasures of a “decisive and mutual” way against the nations that hit the business with America at the expense of Chinese interests.
The Global Trade Research Initiative (GTRI) initiative said that Chinese warnings against the countries against countries in accordance with US effort on Beijing’s isolation must be perceived through the reality of the global supplier chain.
The leading economies, including the US, the EU, Japan, South Korea and India, are deeply dependent on China for the offer of industrial and consumer goods, adding that China is enshrined at all levels of global production hierarchy – finished goods, medium products and components and components.
The replacement of China entirely requires that the production capabilities of the building from the raw material phase upwards that no country has yet reached a scale.
Think Tank said India must map an independent course, strengthen its home production base and reduce critical imports through a targeted investment in deep production.
At the same time, India should have remained firmly determined to multilateral trade standards led by the WTO and avoid activities that risk violations of global rules.
“India should not be attracted to binary geopolitical rivals. Instead, it must participate in China and the US under the same conditions, led by strategic autonomy, economic interest and principles of global trade, not external pressure,” founder Gtri Ajay Srivastava said.
The US remained the largest Indian business partner for the fourth consecutive year in 2024-25 with bilateral trade worth $ 131.84 billion, while the trade deficit of the country with China has expanded to $ 99.2 billion during the same period, it showed government data.
In the latest fiscal exports, Indian exports have closed 14.5 % to $ 14.25 billion compared to $ 16.66 billion in the years 2023-24. However, in the years 2024-25, imports increased by $ 11.52 % to $ 113.45 billion compared to $ 101.73 billion in the years 2023-24.
China continues to be the second largest business partner of India with $ 127.7 billion in two way in two ways in 2024-25 compared to $ 118.4 billion in the years 2023-24.
India negotiates a bilateral business agreement with the US to increase bilateral trade to $ 500 billion by 2030.
(Tagstotranslate) India
