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Trade deficit with China at $8 bn in April-May: Sitharaman

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Nirmala Sitharaman Spokesperson 11, Ashoka Road, New Delhi - 110001. New Delhi: India’s trade deficit with China touched $8 billion during April-May of this fiscal, while  the figure for 2014-15 has grown to $48.47 billion from $36.2 billion in 2013-14, parliament was told  on Friday.

“Increasing trade deficit with China can primarily be attributed to the fact that Chinese exports to  India rely strongly on manufactured items meeting the demand of fast expanding sectors like  telecom and power while India’s exports to China are characterised by primary products, raw  material and intermediates,” Commerce Minister Nirmala Sitharaman told the Lok Sabha in a  written reply.

She said the government has taken various measures to identify specific products having export  potential in order to boost exports and maintain balance of trade with India’s trade partners,  including China.

In view of continuous decline in exports over a half-year period, the government last month set up the Council for Trade Development and Promotion to be chaired by the union commerce minister and comprising state trade and commerce ministers and officials including 14 union secretaries including those of commerce, revenue, shipping, civil aviation, agriculture, food processing and economic affairs as members.

India’s merchandise exports declined further for the seventh straight month in June to $22.29 billion, 15.82 percent lower than the $26.48 billion worth shipped in the same month of last year.

Exports remained almost static compared to May’s figure of $22.34 billion, continuing the declining trend for the sixth straight month, caused by the global economic slowdown, fall in crude oil prices and rupee’s appreciation.

Replying to a separate question, Sitharaman said India has entered into 11 free trade agreements and five preferential trade agreements with other countries.

“India is negotiating FTAs and PTAs with some countries, including Israel and the EU (European Union),” she said.

(IANS)

 

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Panasonic Unveils Mobile Computing Devices in India

The energy efficient device is built on the Qualcomm Snapdragon mobile platform to ensure long-term Android support

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Panasonic launches mobile computing devices in India. Flickr

Japanese electronics major Panasonic on Thursday launched TOUGHBOOK FZ T1 and L1 mobile computing devices in India.

The TOUGHBOOK FZ T1 is durable, compact and comes with a 5-inch screen and runs Android 8.1 Oreo OS.

The device delivers fast, easy barcode scanning with an integrated barcode reader, the company said in a statement.

It is also designed with MIL-STD-810G standards and comes with IP66/68 rating.

panasonic
Panasonic. IANS

“Our newest offering under the product category further assists consumers with their enterprise based working environment by robustly assisting them to augment their efficiency levels through the TOUGHBOOK series,” said Vijay Wadhwan, Business Head System and Solution Business, Panasonic India.

Also Read- Microsoft Working to Introduce a Consumer Version of Microsoft 365 Bundle

The FZ-L1 offers professional-grade capabilities and reliability to workers who rely on accessing information on-the-go.

The energy efficient device is built on the Qualcomm Snapdragon mobile platform to ensure long-term Android support. (IANS)