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NITI Aayog invite bids for study on India-China trade deficit

The plan is to come up with a comprehensive action plan to bridge India’s trade deficit with China and align India’s trading strategies with emerging geopolitical situations and potential risks to safeguard its supply chains, which have seen major disruption during the outbreak of the pandemic.

The government will soon come up with a comprehensive action plan to bridge India’s trade deficit with China and align India’s trading strategies with emerging geopolitical situations and potential risks to safeguard its supply chains, which have seen major disruption during the outbreak of the pandemic.

 

NITI Aayog has invited bids from 10 institutions to analyse the trends in India-China trade (at product category level) over the recent years to discern patterns of trade dependency and underlying reasons for the same.The 10 institutions include Aeon Market Research, Consumer Unity & Trust Society, Crisil, Ernst & Young, Nangia & Co, Development Evaluation Society of lndia (DESI), KPMG Advisory Services, SR Asia, Projection Strategy and EGROW Foundation.

 

The consultant or the bidder will be selected through the Quality and Cost Based (QCBS) selection method with 70% weightage to the technical proposal and 30% weightage to the financial proposal. The selected bidder will have to submit its report in three months, the Aayog said in the request for proposal (RFP) document issued on Tuesday.

 

The Aayog is of the view that the centrality of China to India’s supply chain in certain industries raises dependency and vulnerability of the Indian supply chains and production networks particularly during crisis situations such as the COVID-19 and geo-political conflicts.The study would also include analysis of the supply chains of India-China trade and also comparable supply chains of India’s trade with other Asian countries to de-risk India’s trade.

 

“Besides, the bidder will also examine product categories where India has comparative advantage and a sizeable market in China to scale up exports to China,” it said.According to the RFP document, seen by ET, the bidder will be responsible to examine tariff, non-tariff barriers, regulatory ecosystem and market access concerns in China.

 

The institute will be expected to recommend key policies to boost domestic production and productivity in sectors comparable to the global economy not only to reduce the trade deficit with China, but also to capitalise on global supply chain shifts."The institute will analyse the type and quantum of foreign investment which may bridge the technology gap and utilize the abundant domestic manpower for competitive products and provide recommendations to resolve the same," it added.


By Yogima Seth Sharma

https://m.economictimes.com/news/economy/foreign-trade/niti-aayog-invite-bids-for-study-on-india-china-trade-deficit/amp_articleshow/107110805.cms

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