China has proposed for a ‘BRICS FTA’ aimed at boosting trade ties in the grouping through binding commitments on eliminating tariffs.
Current Developments:
  • BRICS members barring China are not keen on such a pact.
Their apprehensions about the plan include the fear that it could lead to a surge in imports of Chinese goods into their territory — in turn, hurting local manufacturing.
Why India is not interested?
  • There is already a widening goods trade deficit with China.
  • India’s goods trade deficit with China has escalated from $1.1 billion in 2003-04 to $52.7 billion in 2015-16.



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