LOOKEAST REPORT | Former Indian ambassador to China Gautam Bambawale on Saturday pitched for a determined push to boost Indian software and pharmaceutical exports to China. “If the Chinese open up to these exports from India, they can get quality products at very competitive costs and India can cut down its adverse balance of payments,”…
NEW DELHI | China and India settled a dispute over the flood–prone Brahmaputra River that flows from Tibet to Bangladesh in a sign of growing cooperation between them.
Indian Prime Minister Narendra Modi and Chinese President Xi Jinping signed the agreement as they began the two–day Shanghai Cooperation Organisation (SCO) summit.
“Our talks will add further vigour to the India–China friendship,” Modi said on Twitter, as the two countries try to reset troubled ties months after a border standoff.
Met this year’s SCO host, President Xi Jinping this evening. We had detailed discussions on bilateral and global issues. Our talks will add further vigour to the India-China friendship. pic.twitter.com/PNVi6fQ3SD
— Narendra Modi (@narendramodi) June 9, 2018
The SCO, launched in 2001 mainly to combat radical Islam and other security concerns across Central Asia, added traditional rivals India and Pakistan as members last year.
Under two deals signed on the side–lines of the SCO summit on Saturday, China will share hydrological data on the Brahmaputra River and amend certain requirements on Indian exports of rice other than the premium Basmati variety to China, India’s foreign ministry spokesman, Raveesh Kumar, said on Twitter.
Further strengthening the positive momentum in the bilateral relationship generated at the #Wuhan Informal Summit, PM @narendramodi had a warm and forward looking meeting with Chinese President #XiJinping on the sidelines of the SCO Summit. #IndiainSCO #SCOSummit pic.twitter.com/8fOGULpnLS
— Raveesh Kumar (@MEAIndia) June 9, 2018
India said last year that China had not stuck to an agreement to share hydrological data, or scientific information on the movement, distribution and quality of water for the Brahmaputra River. China had cited “technological” reasons.
New Delhi has also been concerned about the rising trade deficit with China, and has sought greater access to the world’s second–largest economy for products such as rice, rapeseed, soybeans and sugar.
China had not stuck to an agreement to share hydrological data, or scientific information on the movement, distribution and quality of water for the Brahmaputra River. China had cited “technological” reasons
India’s trade gap with China has widened to $51 billion, a nine–fold increase over the past decade.
The rice deal should help India finally crack the market in China, the world’s biggest buyer of the commodity, traders said.
The United Nations Food and Agriculture Organisation estimates that China will buy 6.4 million tonnes of rice in 2018, while India will export a total of 11.9 million tonnes.
“Despite competitive prices, India was unable to export rice to China due to their phytosanitary norms,” said a New Delhi based dealer with a global trading firm, referring to food standards as well as animal and plant hygiene.
“As the norms are going to change, India can easily export more than 1 million tonnes rice every year to China.” ■