NITI Aayog invite bids for study on IndiaChina trade deficit

NITI Aayog invite bids for study on IndiaChina trade deficit

Retail and consumer firms are expected to have a mixed year in 2024, with pockets of growth and challenges. HDFC Bank shares are being dragged down by concerns about their return on assets. A data breach exposed 60 million lives and violated 137 privacy laws. Adani Group firms are still struggling to recover from a Hindenburg report a year ago. Tata Steel reports a profit of Rs 513 crore in Q3.

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Frequently Asked Questions

Q1: What is NITI Aayog's initiative regarding the India-China trade deficit?

A1: NITI Aayog has launched an initiative to conduct research studies aimed at developing a comprehensive action plan to bridge India's trade deficit with China. The Aayog is specifically looking into reducing the trade gap with China and boosting local manufacturing as part of this strategy. Economic Times

Q2: Has NITI Aayog started any specific projects to address the trade deficit?

A2: Yes, NITI Aayog has started by inviting bids from consultants to lead studies in areas of reducing the trade deficit with China. This includes exploring ways to boost local manufacturing and align India's trading strategies with global trade dynamics. NDTV

Q3: What areas of study are being considered by NITI Aayog to address the trade deficit?

A3: The areas of study include exploring sectors where India can be a global manufacturing hub and devising strategies for reducing the trade imbalance with China. Public Notice | NITI Aayog

Q4: What was India's merchandise trade deficit with China in 2022-23?

A4: According to NITI Aayog, about 32%, which amounts to $83.1 billion, of India's merchandise trade deficit in the year 2022-23 was with China. New Indian Express

Q5: What is the significance of studies being initiated by NITI Aayog?

A5: The studies initiated by NITI Aayog are significant as they aim to create actionable plans to make India a competitive player in the global manufacturing sector, while also strategically reducing the trade deficit with China. This will support India's long-term economic growth and trade balance improvement. Economic Times