The UGC China Studies Centre, MMAJ Academy of International Studies, Jamia Millia Islamia (JMI) organised an online lecture on the topic ‘India-China Economic Relationship: Evolving Chinese Linkages with South Asian Economies’ on November 18, 2020. The lecture was delivered by Prof. SK Mohanty, Professor at the Research and Information System for Developing Countries (RIS), a think-tank supported by the Ministry of External Affairs, GoI. As an economist, Prof. Mohanty, has enormous experience in working on issues including bilateralism, regionalism, and multilateralism.
The event was chaired by Prof. Mathew Joseph C., Officiating Director (in-charge), MMAJ Academy of International Studies who underlined the importance of the topic and its relevance in today’s international scenario.
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Prof. Mohanty began the lecture by comparing the growth model of both India and China. With a historical view of China’s economic reforms and opening-up process since 1978 and India’s liberalisation process from the 1990s onwards, he projected the growth of India as the third-largest economy in terms of GDP by 2035 even while at the same time China’s projected growth as the largest economic power in the world in terms of GDP.
He underlined the rapid progress and the successful implementation of the countrywide reforms and the relevance of three factors specifically government support, implementation, and the social sector in this.
India-China market
Prof. Mohanty analysed a whole range of issues like India-China bilateral economic issues, restrictions on market access, myths in India-China trade and the way forward for both countries. He emphasized that the deficit in the trade relations between India and China is a serious problem, which he attributed to the primary issue of market access for Indian products and goods into China.
Prof. Mohanty talked about the role of SOE’s in China and how they are critical to the regulation of import orders from different geographies and their reservations towards Indian products. He specifically outlined India-China interactions in various trade groupings and initiatives and the mutual importance of the Indian market for China and access to the Chinese market for India as well. He concluded his lecture with special emphasis on regionalism and multilateralism and advise to Indian policy-makers to avoid the concentration of imports from any single destination and focus on imports from competitive suppliers.
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The lecture was attended online by students and faculty from Jamia Millia Islamia and faculties and researchers from other parts of the country as well. The lecture was followed by an enthusiastic question-answer session encompassing issues on diversified trade sectors between India-China, India’s influence on the Chinese trade policy and the proportion of India’s share in Chinese export volume.
Courtesy: India Today
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