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2011-08-18

China shifts to consumer driven economy

China shifts to consumer driven economy

China's policy shift towards consumer driven economy is expected to give an impetus to India's exports of garments, jewellery, small cars and engineering products to the neighbouring country, Parliament was informed on Wednesday to which Minister of State for Commerce and Industry Jyotiraditya M. Scindia commented, "China's shift towards consumer-driven economy is likely to enhance exports of consumer products like garments, processed jewellery, small cars, engineering products and house-hold goods from India to China”.

India's trade deficit with China in 2010 stood at USD 20.02 billion, more than USD 15.87 billion registered in 2009.

The bilateral trade between the two countries stood at USD 61.74 billion in 2010 and is expected to reach USD 100 billion by 2015.

 

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