New Delhi: As the trade war between the US and China is amplified, India is on alert to prevent any increase in diversified goods entering the country, higher government officials said.
For this purpose, a committee was established. The head of the Minister of Trade Sunil Barthwal will be headed by officials of the Ministry of Commerce, the CEO of the Foreign Trade (DGFT), the Central Council of Indirect Taxes and Customs and the Ministry of Industry and Internal Trade (DPIIT).
He will carefully monitor any influx of agricultural products from the US and goods from China. These goods could be routed to third countries such as Vietnam, Indonesia and Nepal.
The Minister of Commerce reviews the Committee’s report every week and, based on its findings, the necessary measures may be taken to check the import of goods from China, the first of the four above mentioned officials said.
Barthwal said, “However, without the name of any particular country, we have identified some countries for more intensive monitoring. We are aware of the newly emerging trends, especially with regard to the global development of tariffs. Imports are closely monitored through the specified cell and the necessary measures will be taken.”
“We are also in constant contact with our parties involved,” he added. “Officials of the Ministry of Commerce coordinate various ministries and export support and on the basis of their feedback and inputs will be introduced appropriate corrective measures,” he said.
The risk of dumping goods
According to the Ministry’s presentation, in the presence of the Minister of Trade, a recent assessment emphasized the risk of evaluation of goods to India due to mutual tariffs at global tension.
Increasing costs in the US can cause exporters from countries such as China, Vietnam and Indonesia – all that faces business deficits with the US – to divert goods to India, which potentially causes import tensions according to the document.
In addition, Chinese retaliatory tariffs on American goods could further increase the influx of US agricultural products to India.
In the case of the Ministerial Committee (IMC) for the monitoring of the import increase, except for representation from the Ministry of Trade, DGFT, CBIC and DPIIT, representatives of other ministries are consulted if necessary.
“The Ministry of Trade also set up a global tariff and business aid.
Regarding whether higher tariffs on competitive countries could benefit India, the secretary of the trade said: “Our advantage depends on both our tariffs and those who are in competing countries. If we have lower tariffs, it creates opportunities. more opportunities than challenges than challenges than prematurely. ”
“The next round of interviews with the US will start this week, followed by another round of personal discussions in the second week of May,” another official said.
“Although the leaders of both nations have committed themselves to finishing BTA in the autumn (September-October) 2025, this does not mean that this process will extend so long. It could be closed earlier because both countries are equally focused on the progress of agreements,” the official said.
The conversations are going well
BTA interviews with the US proceeding well and both partner countries signed the reference conditions for the first trance of bilateral trade agreements, the official said.
In February, both countries agreed to work in this first phase aimed at packing it by the end of the year, as part of their goal to increase $ 500 billion to $ 500 billion by 2030 by $ 500 billion.
“India Stands to Gain Significantly From the US Decision to Impose and 120% Duty on Chinese e-commerce Shipments Under $ 800 Starting 2 May. With Over 100,000 Online Selers and $ 5 Billion in Exports Like Handicrafts, Fashion, and Home Goods, “Said Ajay Srivastava, Co-Founder, Global Trade Research Initiative (Gtri), and Think Tank.
This committee raises importance because several advice to support exports urged the government to monitor the influx of imports from China and other countries that hurt domestic production.
An example is the Indian Association of vegetable oil producers (IVPA), which raised concerns about a steep increase in duty -free import from Nepal on the basis of SAFTA agreement and urged the government to act.
Another is the Association of Indian Indian Industry (focused) industries, which was looking for 12 key medical devices on the basis of protection, which warns that growing imports hurt a domestic manufacturer.
“Imports have increased, especially from China, Germany, Singapore, the USA and the Netherlands. Only China represents 33.47% of this increase,” he said in a statement.
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