India awaits bovine intervention to improve trade deficit with China

 

India is waiting for China to lift restrictions on beef imports, which can help address the worsening bilateral trade deficit, a newspaper reported.

The government has instructed the Indian embassy in Beijing to take up the issues with the relevant departments in China to ensure quick action, BusinessLine quoted a commerce ministry official as saying.

“It is appalling that even after sending a quality inspection team to India to examine our buffalo meat facilities in September last year, China has not made any moves to lift the import restriction. Our embassy is seeking a response,” the official said.

India is frustrated with China’s failure to honour a 2013 agreement that would allow it to export beef to China. India has the potential to export $2 billion worth of buffalo meat to China, some of which is now being smuggled into the country through Vietnam, the newspaper said.

The trade deficit between the two neighours stood at $48billion in the fiscal 2014-15. In the current fiscal, the situation has worsened, with the trade deficit touching $35 billion in the April-October period as India’s exports to China declined 5.67 per cent to $5.9 billion, it said.

 

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