Emergence of China and India on World Trade Scenario

Abstract

The qualitative aspect of India-China trade is more relevant than the quantitative one. China is both an opportunity and a challenge for the Indian economy. The same is true for India's status in the eyes of Chinese economy. This is this the factor, which will bring more business to both the sides. In order to grow at a much faster pace, different segments of both economies have got their tasks cut out for them. In addition to the role of the business organizations located in the two nations, the governments have to streamline the trade procedures and minimize transaction costs as well as various non-tariff barriers. Once this gets done, India and China are sure to rock the world economy and emerge as winners in the globalized world.

Keywords: Qualitative, quantitative, non-tariff barriers, globalized world