Sitharaman Flags China’s Trade Barriers as India’s Export Hurdle
What Happened
Finance Minister Nirmala Sitharaman said on October 16 that China’s non-tariff barriers are the biggest hurdle in bilateral trade, citing limited market access for Indian generic medicines, agricultural products and other goods. India’s trade deficit with China reached about $69 billion in April-September FY27, up 27% year-on-year.
Key Takeaways
Sitharaman said India prefers negotiations over retaliatory trade restrictions. China responded that it is willing to address both countries’ economic and trade concerns and said it does not seek a trade surplus.