In a bid to reduce its burgeoning trade deficit with China, India has signed a protocol to revive the export of tobacco leaves to Beijing. The first such agreement was signed in 2008.
“The revival of the phytosanitary protocol with China will pave the way for revival of Indian tobacco exports to China and prove economically beneficial to Indian farmers,” department of commerce said in a statement on Monday.
The development comes after China allowed imports of non-Basmati rice and sugar from India. It is also keen to import pomegranate, grapes, soymeal, fish oil and fish meal from India.
This recent period has seen significant progress in market access for six agriculture and allied products from India as it seeks to curb its staggering $63 billion trade deficit with China.
“Quality tobacco on par with international standards is available in India at competitive prices and there is good potential for export of Indian tobacco to China,” the department said.
India has also sought faster market access for other products like okra, soya bean, bovine meat and dairy products.
Source :- Economictimes.indiatimes.com