India's engineering goods fast losing Chinese market: Report

[beijingwalker]

India's engineering goods fast losing Chinese market: Report
By PTI | Updated: Oct 26, 2016, 09.46 PM IST

NEW DELHI: Amidst concerns over widening trade deficit with China, India's engineering exports to the country dropped by 45 per cent to USD 584.10 million during AprilSeptember, reflecting subdued demand in some of the core sectors like nonferrous metals, according to a report.

The analysis by engineering exporters' body EEPC India shows that India's engineering exports are "fast losing a huge Chinese market, falling by annualised 57 per cent in September to USD 92.57 million from USD 216 million a year ago".

"For the cumulative period of AprilSeptember this year, the country's engineering exports to China dropped by a sharp 45 per cent to USD 584.10 million over USD 1.06 billion in the first half of the previous fiscal," EEPC India noted.

The sharpest decline in shipments to China was witnessed in nonferrous metals, as much as 78 per cent from USD 631.17 million in AprilSeptember 201516 to USD 139.50 million.

"China as an export destination has been a disappointing story this year. This is reflective of continuous weaknesses in the core sectors of the economy, which is also somewhat a case in major economies," EEPC India Chairman T S Bhasin said.

However, neighbouring countries Nepal and Bangladesh sprang a surprise for India's engineering exports, helping reverse its fortunes.

The engineering dispatches to Bangladesh, on the back of a growing economy, rose to USD 146 million in September from USD 121 million in the same month last year.

For the first half of the current fiscal, shipments to Bangladesh went up to USD 919 million from USD 687 million.

Likewise, engineering consignments to Nepal for September jumped to USD 178.55 million from USD 64.60 million.

For the April-September period, shipments to the country grew to USD 1.06 billion from USD 755 million.

Overall, the country's engineering exports moved up to USD 5 billion in September from USD 4.7 billion during the same month last year.

India's trade deficit with China swelled to USD 52.68 billion in 2015-16, from USD 48.48 billion in the previous fiscal.
http://economictimes.indiatimes.com...hinese-market-report/articleshow/55074799.cms

 

[beijingwalker]

If one's products are not appealing you don't have to call for a "boycott" , The market will work its own way and it's far more effective than "boycotting".

 

[SDS1]

lol, China buy Raw material like Ore etc , its not about appealing . It tells china companies are moving towards slowdown...

 

[ohmrlobalobayeh]

lol, China buy Raw material like Ore etc , its not about appealing . It tells china companies are moving towards slowdown...

makes no sense. I read your these 2 sentences thrice and i cant tell what you are trying to say?

buying more raw materials = slowdown? of what? u mean China's ecnonomy is slowing down because it's importing more raw materials?

 

[beijingwalker]

lol, China buy Raw material like Ore etc , its not about appealing . It tells china companies are moving towards slowdown...

China is moving the value chain fast, that's a clear sign of that and India has nothing to offer except for its raw materials.

 

[Anish]

If one's products are not appealing you don't have to call for a "boycott" , The market will work its own way and it's far more effective than "boycotting".

Boycott things started every year during Diwali.It's not new.Mainly to decrease import of low cost Chinese firecrackers & to help local consumers.
Chinese products are not known for quality but it's cheapness.

 

[SDS1]

makes no sense. I read your these 2 sentences thrice and i cant tell what you are trying to say?

buying more raw materials = slowdown? of what? u mean China's ecnonomy is slowing down because it's importing more raw materials?

Brain worker ...... can you give the Data of ORE buying of china has increased? China mainly buys Iron Ore from India. share the data in which china buying more IRON ORE / Mineral from other country.

Dont put too much load on your brain, it will get short Circuit.

China already have Excessive Steel output which is lying in the factory...

China is moving the value chain fast, that's a clear sign of that and India has nothing to offer except for its raw materials.

Value Chain... did you know china has lot of Steel inventory lying in its factory which it cant use / sell... check facts then talk about value chain.

 

[ohmrlobalobayeh]

Brain worker ...... can you give the Data of ORE buying of china has increased? China mainly buys Iron Ore from India. share the data which it buying more IRON ORE / Mineral from other country.

Dont put too much load on your brain, it will get short Circuit.

China already have Excessive Steel output which is lying in the factory...


Value Chain... did you know china has lot of Steel inventory lying in its factory which it cant use / sell... check facts then talk about value chain.

Since when did I claim anythign whether it's an increase of decrease of ANYTHING? Im asking what are you trying to say with your post

Remember to see your therapist this week for your https://en.wikipedia.org/wiki/Dyslexia therapy

 

[beijingwalker]

Value Chain... did you know china has lot of Steel inventory lying in its factory which it cant use / sell... check facts then talk about value chain.

That's true ,but what I said is also very true.If you don't see it you are just in denial

 

[ohmrlobalobayeh]

Anyway, the topic's point is India's exports to China are dropping

 

[abc123xyx]

ok...
so the raw matterial export to china decline.
that means manufecturing in india is picking up....that summed up the 7.5% growth..
so according to the article india expoting more menufectured goods to other countries.
its a good news.

 

[SBUS-CXK]

Boycott things started every year during Diwali.It's not new.Mainly to decrease import of low cost Chinese firecrackers & to help local consumers.
Chinese products are not known for quality but it's cheapness.

Do not know the quality of why you import? If because of cheap, to be honest, Freedom 251 is more cheaper...

 

[beijingwalker]

You get what you pay for. China produces everything across the board, from low end to high end products. Chinese products offer consumers more choices than ever.

http://theconversation.com/made-in-...as-evolved-from-imitation-to-innovation-67236

 

[SDS1]

Since when did I claim anythign whether it's an increase of decrease of ANYTHING? Im asking what are you trying to say with your post

Remember to see your therapist this week for your https://en.wikipedia.org/wiki/Dyslexia therapy

lol, some people have problem in understand things but put the their brain it. they want to get explained like kids do.

ORE / Mineral used for ? Metal / IRON/ Alloys/Steel etc

Less ORE means less manufacturing of Metals / IRON/ Steel etc

I hope you got the point...... u need further explanation ?

Do not know the quality of why you import? If because of cheap, to be honest, Freedom 251 is more cheaper...

lol same quality u were importing from more then 10 yrs, show data if u buying from other country?

 

[ohmrlobalobayeh]

lol, some people have problem in understand things but put the their brain it. they want to get explained like kids do.

ORE / Mineral used for ? Metal / IRON/ Alloys/Steel etc

Less ORE means less manufacturing of Metals / IRON/ Steel etc

I hope you got the point...... u need further explanation ?


lol same quality u were importing from more then 10 yrs, show data if u buying from other country?

yayayayayyayayaya.

lol, China buy Raw material like Ore etc , its not about appealing . It tells china companies are moving towards slowdown...

u talked about China buying raw materials like ores. then u talked about something not being appealing(like what?)

from where does it states less 'ores'. What thing about less ores? less ores being purchased? if so, less ores being purchased by whom? China? India? Then u talked about how CHina is 'slowing down', which i assume about China's economy slowing down and if that's the case:

Are you trying to say China's economy is slowing down, just because it is buying less ores from India?

PS: My apologies, i will forgive your self-expression impediment

even if we were to follow your fabulous logic(that China 's economy is slowing down jsut because it is importin lesser from india)- based on this article:

based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.

In 2015, China incurred the highest trade surpluses with the following countries:

1. Hong Kong: US$321.5 billion (country-specific trade surplus in 2015)
2. United States: $260.3 billion
3. Netherlands: $50.8 billion
4. India: $44.9 billion
5. Vietnam: $41.3 billion
6. United Kingdom: $40.7 billion
7. Singapore: $25.6 billion
8. United Arab Emirates: $25.5 billion
9. Mexico: $23.7 billion
10. Spain: $16.3 billion

Among China’s import partners that cause the greatest positive trade balances, Chinese surpluses with Singapore (up 244.3%), Vietnam (up 129.5%) and India (up 65.2%) grew at the fastest pace from 2011 to 2015. <=== India' trade deficit with China is widening at a rapid pace

These positive cashflow streams clearly indicate China’s competitive advantages with the above countries, but also represent key opportunities for China to develop country-specific strategies to optimize its overall position in international trade.

we can see that China still has the 4th highest trade surplus(with India) in the world out of all its trading parthners. This simply means Chinese are buying lesser indian goods while Indians are buying more Chinese goods.

Even my grandma cant figure out how this is translating to China's economy slowing down just because China is buying less Indian goods- not to mention:

List of countries by iron ore production
From Wikipedia, the free encyclopedia



World iron ore production (thousands of tonnes) in 2008:
500,000+
100,000–500,000
10,000–99,999
1,000–9,999
0–999

This is a list of countries by iron ore production based on U.S. Geological Survey data.




Contents
[1List

• 
  
  
  • 2Pig iron production

• 
  
  
  • 3See also

• 
  
  
  • 4References

List[edit]
Rank Country Iron ore production
(thousand tonnes) year
World 3,320,000 2015
1 China 1,380,000[1] 2015
2 Australia 824,000 2015
3 Brazil 428,000 2015
4 India 129,000 2015
5 Russia 112,000 2015




China produces 1.38million tonnes of iron ores per year while India produces less than 1/10 of that. So i guess u think China's economy is 'slowing down' jsut because it is buying less of this miniscule amount that India produces(when compared to China's own production)

So according to you:

Lesser ores purchased from India = Slower Chinese economy

Time to see your doctor for your Chronic https://en.wikipedia.org/wiki/Delirium :