India's ambassador to China has advocated for a significant expansion of pharmaceutical exports to the Chinese market, while simultaneously welcoming a rise in Chinese investment as bilateral relations move towards normalisation.
Pharmaceutical Exports: India's Competitive Edge
Speaking at a panel discussion on Protectionism and Global Economic Governance at the World Peace Forum organised by China's Tsinghua University, the Indian ambassador Doraiswami emphasised India's desire to boost exports to China. "Obviously, we would like to be able to export more to China. There is nothing unreasonable about suggesting that, particularly in areas where we believe we have a competitive advantage such as pharmaceuticals," he said, according to the Economic Times.
Doraiswami highlighted India's global standing, noting, "For instance, we're one of the world's biggest exporters of pharmaceuticals to advanced markets." He expressed hope that Chinese partners would facilitate the export of high-quality generic medicines — currently supplied to the United States and other countries — to the Chinese market. India has long demanded that China open its IT, pharmaceutical, and agriculture sectors, which are considered India's strong areas.
Trade and Investment Normalisation
The envoy's remarks come amid broader efforts to strengthen India-China trade ties. Doraiswami recently held talks with Wang Liping, Director General of the Department of Asian Affairs at the Ministry of Commerce of China, to discuss initiatives to step up trade ties.
Addressing the balance between exports and investments, Doraiswami stated, "We think there is a balance of advantage for both countries, including value for China and of course, value for the relationship." He described Chinese investments as "good for the larger country-to-country relationship."
Policy Changes and Chinese Investment
In an apparent reference to recent easing of restrictions by the Indian government on Chinese investments, Doraiswami said the relationship is moving towards "normalisation." He elaborated: "India has taken steps to re-establish opportunity for Chinese businesses to invest in the Indian market. Indeed, the policy environment has been specifically changed in the last few months to facilitate greater Chinese investment."
Doraiswami also invited Chinese businesses to invest in India, stating that the Indian embassy is willing to help facilitate investments and listen to their concerns. "That I think is good for the economics of the relationship. It is also good for the larger country-to-country relationship," he added.
| Sector | India's Request to China |
|---|---|
| IT | Market access |
| Pharmaceuticals | Export of generic medicines |
| Agriculture | Market access |
Trade and commerce remain an important component of India-China relations, with both sides showing willingness to deepen economic engagement.
Sources:
