Friendship waves for India: China exempts import tariffs for 28 drugs to balance out mutual trade load
New Delhi, May 4: Welcoming friendly waves, China has exempted import tariffs for 28 drugs, including all cancer drugs from 1st May. This is the second good news after Sikkim's Nathu La pass for India-China trade was finally opened after 10 long months on Wednesday.
This move was welcomed by India with open arms after the China Envoy Luo Zhaohui took to Twitter announcing this Good news for India’s pharmaceutical industry and medicine export to China. He expressed his belief saying that “I believe this will help reduce trade imbalance between #China and #India in the future.”
Further Luo Zhaohui said that #China will further improve the business environment by halving time required to open a business, State Council decided at an executive meeting chaired by Premier Li Keqiang on May 2nd. #China’s door to the outside world will open wider. #Indian businesses are welcome!
These moves come after Prime Minister Narendra Modi’s successful meet with President Xi Jinping. PM Modi met Xi Jinping to stabilize the India-China diplomatic relations.
Leaving behind all the sulky issues, India-China prioritized ‘unity for development’ above all. With the informal summit, Prime Minister Narendra Modi and President Xi Jinping pledged to unitedly serve towards ‘world peace’ and emerge as a superpower by pooling resources for countering terrorism, climate change, tackle border issues, promote culture, boost trade and pump our economy on global platform etc.