NCAER to enlarge trade basket from Nathula
The government has asked economic think tank NCAER to identify additional items that could be traded through Nathula pass in Sikkim to boost trade between India and China through the land route.
By PTI |
NEW DELHI: The government has asked economic think tank NCAER to identify additional items that could be traded through Nathula pass in Sikkim to boost trade between India and China through the land route.
The Commerce Ministry has mandated National Council of Applied Economic Research for conducting a comprehensive study as trade through the newly-opened route has not picked up as per initial expectations, official sources said.
The route was opened in June this year and till September goods worth Rs 8.86 lakhs have been exported from India, while imports were a little higher at Rs 10.61 lakhs, according to official figures.
Apart from increasing the number of items that can be traded, the government is considering liberalising rules for the Chinese businessmen who cross over to India for trade.
While Indian businessmen can stay at China's Renqinggang mart overnight, Chinese traders have to return the same day. As per the present arrangement, India can export only 29 items while China can sell 15 commodities to India.
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India can export farm implements, blankets, shoes, copper products, bicycles, clothes, coffee, tea, barley, rice, flour, dry fruit, dyes, spices, watches, utensils and agro chemicals. China, in turn, is allowed to export wool, goat cashmere, goat skins, yak tails, yak hair, horses, salt, silk, borax, butter and China clay.Historically, Nathula pass had been an important route of India-China trade. At the turn of 20th century, more than 80 per cent of trade between the two neighbours used to be conducted through this route. The route was closed after Sino-India war of 1962.
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