Need for change in business relations with China: Foreign Secretary Shringla

Relations between India and China are taking a turn. Several fronts are being seen again in the bilateral relations between the two countries on the border in eastern Ladakh and violent clashes between the two countries. 

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India's Foreign Secretary Harsh Vardhan Shringla has said that the business relationship between India and China needs to be corrected.

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Shringla said, "The bilateral trade between the two countries is worth $ 78 billion and it is very much in favor of China".

In bilateral trade with China, India imports more from there while China exports more. Shringla made her point in the Asia Economic Dialogue 2021 on Sunday. It was organized by the Ministry of External Affairs and the Pune International Center.

After the change of power in the US, how different will India's relations be during the era of Trump? Shringla said, "There is a kind of continuity in relations between India and America." Prime Minister Narendra Modi had a good friendship with both President Barack Obama and President Trump."

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“While China continues to be one of India’s most important trade partners, the balance of trade is skewed in favour of the former. With recent disturbances in eastern Ladakh and the ongoing process of disengagement, there is introspection on our part in making our supply chain more resilient… a normal bilateral relationship with China is calibrated on peace and tranquillity on other fronts,” he said.

Mr. Shringla said the Indian government was trying to work out details of new proposals with the Biden administration to make the supply chain more resilient in the Indo-Pacific region.

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“We are trying to work out details of various proposals that have come in. How we can work together in the Indo-Pacific? This included maritime security,” he said.

China is the largest trading partner for India. Shringla said that the business relationship with China needs to be revived.

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