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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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Actress Alia Bhatt To Be The Face of Nokia Phones in India

The Nokia phones print campaign with the actress went live on October 12 to mark the festive season

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Alia Bhatt, Wikimedia

Finnish company HMD Global that manufactures and markets Nokia smartphones on Monday roped in Bollywood actress Alia Bhatt as the face of Nokia devices in India.

“We are really excited to have Alia Bhatt as the face of Nokia phones. I am confident that in the coming together of Nokia phones and Alia Bhatt, we will further enhance the excitement around our new launches for our fans,” Ajey Mehta, Vice President and Country Head-India, HMD Global, said in a statement.

The new festive campaign with Bhatt takes an affectionate and light-hearted look at the unique role played by a young person (and her Nokia smartphone) in making Diwali celebrations with her loved ones truly special, the company added.

Alia Bhatt
Alia Bhatt face of Nokia phones in India. Wikimedia Commons

The Nokia phones print campaign with the actress went live on October 12 to mark the festive season.

Also Read- Microsoft Launches ‘Surface Laptop 2’ In China

“The young generation is relied upon by their loved ones for so many things that they do with just a few clicks on their phones — from paying a bill to capturing memories. This insight is at the core of our campaign and helps make Nokia phones relevant for these young consumers,” Mehta added. (IANS)

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