India’s ambitions can foster complementarity with China, reports Global Times
New Delhi/IBNS: There has been no shortage of pessimism regarding economic and trade relations between India and China, as Chinese companies are bearing the brunt of the most severe crackdown due to New Delhi's "tendency to generalize security issues in its China trade policy", though the latest data may indicate a different trend, serving as a reminder not to overlook the complementary strengths of both economies, according to a report by the Chinese Communist Party (CCP)-owned Global Times.
After the United States became India's largest bilateral trading partner in fiscal years 2021-22 and 2022-23, this change in the South Asian nation's top trading partner status may come as a surprise to many, especially considering the tensions between New Delhi and Beijing, and India's scrutiny of Chinese companies, reports Global Times.
The Chinese newspaper opined that promoting the localization of Chinese companies in India is a crucial strategy to address the existing imbalance, while by establishing production bases in India, Chinese companies can generate more employment opportunities and stimulate the growth of the local economy, ultimately aiding in the reduction of the trade deficit.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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