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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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Huawei Partners with Micromax Infomatic to Boost Offline Sales in India

Huawei, the world's second largest smartphone seller, entered the India market in 2018

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huawei, micromax infomatic
FILE - A staff member stands in front of a Huawei shop in Beijing, China, March 7, 2019. VOA

Chinese smartphone maker Huawei on Tuesday entered into a partnership with Indian consumer electronics firm Micromax Informatics to boost its off-line sales in India. “We have partnered with Micromax to launch our smartphones at multibrand outlets in India,” Rishi Kishor Gupta, Vice-President, (Huawei Brand), Consumer Business Group, Huawei India, told IANS. Huawei’s online brand Honor phones are not part of this deal.

“In Micromax brand stores, Micromax phones will be available. But as far as the distribution and retail network that we have, Huawei will be capitalising on that,” said Deepti Mehra, Head, Marketing, Micromax Informatics.

“There will be no co-branding. Micromax will continue separately when it comes to launching of own phones. There is no conflict of interest because Micromax addresses to the mass segment and Huawei the premium category,” she said.

huawei
There is no conflict of interest because Micromax addresses to the mass segment and Huawei the premium category,” she said. Flickr

Huawei, the world’s second largest smartphone seller, entered the India market in 2018. Having started its business online in India, Huawei launched offline products exclusively with Chroma. After that it partnered with Poorvika Mobiles to expand presence in the southern states.

ALSO READ: Apple Refreshes its Operating Systems for iPhones, Watches

With the alliance with Micromax, the idea is to be present across the country, starting from cities like Delhi, Mumbai, Pune, Chennai, Kochi, Bangaluru, Hyderabad, Ahmedabad, Dehradun, Kolkata and Jaipur.

“With an aim to be present where our consumers are, we plan to focus on a robust offline distribution network catering to the needs of consumers in urban as well as rural regions and to make them experience the innovative technology that has won the hearts of customers’ world over,” said Tornado Pan, Country Head (Huawei Brand), Consumer Business Group, Huawei India. Huawei sold 200 million smartphones in 2018. It also shipped 100 million devices by the end of this May. (IANS)