China's policy shift in trade may boost India's exports

NEW DELHI: 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.

"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," Minister of State for Commerce and Industry Jyotiraditya M. Scindia said in a written reply to Rajya Sabha.

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

China has emerged as one of India's largest trading partners. The bilateral trade stood at USD 61.74 billion in 2010 and is expected to reach USD 100 billion by 2015.