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Prime Minister Narendra Modi to discuss bulging trade deficit with China

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By NewsGram Staff Writer

Prime Minister Narendra Modi during his visit to Beijing next month, will take up the issue regarding  India’s bulging trade deficit with the Chinese leaders.

Modi is expected to propose measures to narrow the gap that had disproportionately skewed towards the neighbor.

According to the estimations of the Commerce Department, the trade deficit between India and China has widened up to $40 billion in 2014-15 and is expected to reach up to $60 billion in the next five years, if the issue went unnoticed.

The imports from China had increased up to 18.18 per cent to $55.77 billion, while exports had declined up to 18.88 per cent to $11.01 billion, reported the Commerce Department.

“The Prime Minister will make a strong pitch to reduce the deficit in case there is a future for India-China trade relations, this issue needs to be sorted out’,” said the Commerce secretary Rajeev Kher.

“The approach requires a three-pronged strategy; seeking effective market access from China in specific areas of India’s strength, channeling Chinese investment into Indian manufacturing and jointly investing in third world countries,” added the Commerce secretary during the three-day session of Global Exhibition in Services.

Kher also said that, “China has expressed interest in setting up industrial parks in the country. It has to be ensured that these fructify on time, because the more investments get delayed, the wider the trade deficit will get.”

Next Story

China on Consecutive Missions To Moon and Mars

The 2011 Wolf Amendment, motivated by security concerns, bans NASA scientists from working with Chinese citizens affiliated to a Chinese state enterprise or entity

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NASA, Moon
China plans another Moon mission in 2019, targets Mars in 2020: Report

Riding on its success of landing a rover on the far side of the Moon earlier in January, China’s space agency is planning to launch another mission to the Moon by the end of 2019 and a mission to Mars as early as 2020, the media reported.

The plans underscore China’s ambitions in space at a time when the US is curtailing NASA’s budget and increasingly handing over space exploration to commercial adventurers, the Washington Post reported on Monday.

The China National Space Administration is working to send a probe to the Red Planet, said Wu Yanhua, deputy chief of the agency.

“China will carry out its first-ever exploration mission to Mars around 2020,” he said.

On January 3, China’s robotic spacecraft Chang’e-4 landed on the far side of the moon, a first in the human history of space exploration.

The 1.3-tonne lander, which made a soft landing on the Moon, put potato seeds and silkworm eggs housed in a chamber, and fed natural light and nutrition, on the Moon.

The space agency plans to launch a Chang’e-5 mission at the end of 2019 with the goal of collecting samples from the near side of the moon, Wu said. They would be the first samples retrieved since 1976.

China is also building its own space station, called Tiangong or Heavenly Palace, which is expected to be operational in 2022. But the agency is still deciding whether to send astronauts to the Moon, Wu said.

NASA mars, UAE, Hubble
China plans to land Mars in 2020 VOA

It also deployed a small rover called Yutu-2, or Jade Rabbit-2, to explore the surrounding lunar terrain, which is believed to be older than that on the near side.

“All these are first-time breakthroughs for humankind,” Wu said, adding “they are bound to make significant impacts on both China and the world.”

Meanwhile, China also said it has shared data with NASA about the Chang’e-4 lunar mission.

That claim could not be immediately substantiated, but it could raise eyebrows on Capitol Hill because NASA and the Chinese agency are prohibited from cooperating without congressional approval, the report said.

Also Read: China Exchanged Data With NASA On Its Recent Mission To Moon

The 2011 Wolf Amendment, motivated by security concerns, bans NASA scientists from working with Chinese citizens affiliated to a Chinese state enterprise or entity.

“Expanded international cooperation is the wish of all scientists,” Wu said. “It takes joining of forces among the world’s big space powers to really make a difference in human space exploration.” (IANS)