India’s Ambassador to China Vikram Misri interacted with representatives of Indian industry in Shanghai yesterday. More than 30 representatives representing 8 sectors such as textiles, pharma, electronics, manufacturing, chemicals, IT, banking etc interacted with Mr.Misri. The discussion centered around how to deal with business risk in the fluid current geopolitical scenario.
Amid the border tensions in Ladakh, India had tightened regulatory requirements last year for investments from China and has banned more than 200 chinese apps which were considered "prejudicial to sovereignty and integrity of India, defence of India, security of state and public order". Also, due to the COVID-19 pandemic, global trade flows have been slowed.
India’s pre-dominant exports have consisted of cotton, copper, and diamonds/ natural gems. Over time, these raw material-based commodities have been overshadowed by Chinese exports of machinery, power-related equipment, telecom, organic chemicals, and fertilizers. India has been continuously engaging with China to uphold its assurances to remove market access impediments for most of India’s agricultural products and the sectors where India has competitive edge, such as pharmaceuticals, IT/IteS, etc.

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