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English Release 27-February 2015
Date Month Year
  • Ministry of Finance
  • Inflation shows a declining trend during the year 2014-15 (April-December)
  • Foodgrains production for 2014-15 estimated at 257.07 million tonnes; will exceed average food grain production of last five years by 8.5 million tones
  • From Carbon Subsidy to Carbon Tax: India’s Green Actions
  • Food Subsidy Bill stands at Rs. 107823.75 crore during 2014-15 (upto January, 2015), shows an increase of 20% over previous year
  • Create National Common Market in Agricultural Commodities: Economic Survey 2014-15
  • Revive public investment to improve investment climate: Economic Survey 2014 – 15
  • Improvement in Female Literacy and Educational Challenges
  • Wiping Every Tear from Every Eye: The Jan Dhan Yojana, Aadhaar and Mobile Numbers Provide the Solution
  • Major Reform Initiatives Undertaken by Government in Banking, Insurance and Financial Sector
  • Economic Survey highlights the need for balance between ‘Make in India’ and ‘Skilling India’
  • A Growth Rate of over 8 Per Cent Expected for the Coming Year
  • Government Remains Committed to Fiscal Consolidation; Economic Survey says Enhanced Revenue Generation is a Priority
  • Infrastructure Growth in terms of Eight Core Industries Higher than Industrial Growth since 2011-12
  • India’s National Solar Mission Being Scaled up Five-Fold to 100,000 Megawatts
  • India needs to create additional Fiscal Space: Economic Survey 2014 – 15
  • Economic Survey Recommends Reform of Railway’s Structure, Commercial Practices, Overhaul of Technology
  • Skill Development and Employment are major Challenges: Economic Survey
  • Economic Survey 2014-15 Highlights
  • The Fourteenth Finance Commission (FFC) will enhance Fiscal Federalism in India: Economic Survey 2014-15
  • Government approves a Rs. 200 crore Central Sector Scheme for implementing e-platform for agri-marketing
  • Hyper-Growth in Tech start ups in India, says Economic Survey on Services Sector
  • Services Sector Clocks Double Digit Growth
  • External Sector is returning to the path of strength and resilience: Economic Survey
  • Min of Health and Family Welfare
  • Medical Facilities in Tribal Areas
  • Mission Indradhanush will Provide Immunization Against 7 Life-Threatening Diseases
  • Steps Taken to Reduce IMR and MMR
  • National Deworming Drive Launched in 11 States
  • Healthcare of Elderly People
  • Health Research
  • AIIMS Like Institutions
  • Essential Drugs
  • Stufies for Assessment of Health and Family Welfare
  • Polio Eradication Programmes
  • National Guidelines for Stem Cell Research and Therapy
  • Evaluation of Accredited Social Health Activists (ASHA)
  • Steps Taken for Prevention and Control of Vector-Borne Diseases
  • Min of Personnel, Public Grievances & Pensions
  • ACC Appointments
  • Min of Petroleum & Natural Gas
  • Global crude oil price of Indian Basket was US$ 59.19 per bbl on 26.02.2015

Previous Date

 
Ministry of Commerce & Industry20-May, 2013 10:02 IST
India, China Sign MoUs to Address Concerns on Trade Deficit

India and China today here signed three Memorandum of Understandings (MoUs) on buffalo meat, fisheries and pharmaceuticals; and one agreement on feed and feed ingredients. These MoUs will address the growing trade deficit between the two countries. The trade deficit has increased from USD 1.08 billion in 2001-02 to USD 40.77 billion in 2012-13. The MoUs were signed during the visit of the Premier of the State Council of the People’s Republic of China, Mr. Li Keqiang to India.

The Union Minister of Commerce, Industry & Textiles Shri Anand Sharma said that “the signing of the MoUs between India and China is a good beginning to address the issues India is raising with China from time to time. All the sectors are of immense trade importance to India and India has clear price and quality competitiveness in these sectors to compete in the world market.”

A MoU for the export of buffalo meat from India to China was signed between Chinese General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) and India’s Agricultural and Processed Food Products Export Development Authority (APEDA). The export of buffalo meat is not allowed from India to China and this has been a long pending issue between two countries. With the resumption of trade, India hopes a big merchandise trade that will not only be helpful in reducing trade imbalance of India but also in China’s food security by providing quality and hygiene meat products.

The Marine Products Export Development Authority (MPEDA) and AQSIQ signed a MoU on cooperation for import and export trade of fishery products. The MoU aims to institutionalise cooperation in promoting trade of fishery products and healthy development of trade between India and China. India is expecting more exports from India to China through this cooperation.

A MoU was also signed between Pharmaceuticals Export Promotion Council of India (Pharmexcil) and The China Chamber of Commerce for Import and Export of Medicines and Health Products (CCCMHPIE). India has been finding it difficult to expand its trade with China in the pharmaceutical sector. The signing of the MoU is expected to facilitate access to the China market in pharmaceuticals. The average imports of medicinal and pharmaceutical products from China during last five years were USD 4332.37 million vis-à-vis exports from India of USD 692.44 million.

An agreement was also signed between Export Inspection Council of India (EIC) and AQSIQ on trade and safety of feed and feed ingredients. India hopes a big merchandise trade for feed & feed ingredients after the resumption of trade as China has suspended import of feed and feed ingredients since January 1, 2012.

A work programme was also constituted on the Working Groups constituted during the 9th Joint Economic Group (JEG). The programme proposes concrete deliverables to constitute and define detailed mandate of the Working Groups as per the spirit of the JEG held on 27th August 2012 in New Delhi.

The bilateral trade between India and China had gone up from USD 2.09 billion in 2001-02 to the high of USD 75.59 billion in 2011-12; which tapered to USD 67.83 billion during the year 2012-13.

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(Release ID :96098)

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