India-China trade | Decoupling dilemma
The meeting between Prime Minister Narendra Modi and Chinese president Xi Jinping on the sidelines of the BRICS summit in Russia in October may have signalled a thaw in border tensions, but India has been exercising caution in bilateral trade relations, having imposed a series of anti-dumping duties on imports from its northern neighbour this year. The country has also vowed to keep necessary checks on foreign direct investment (FDI) from China, a stance it took to protect national interests following the border stand-off at the icy heights of Ladakh’s Galwan in 2020. But with China overtaking the US as India’s largest trading partner in the first half of this fiscal, experts feel, the Modi regime is facing an uphill task.
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