14th Edition of Annual Sino-Indian Border Trade opens at Nathu La
The 14th edition of the annual Sino-Indian border trade opened at Nathu La, the frontier post at Sino-Indian border in Sikkim. To mark the commencement of border trade, officials and traders of both countries (India and China) were present at the border.
- Every year bilateral border trade between two countries is organised four days a week for period of six months, between May 1 and November 30.
- After a gap of 44 years, cross border trade was resumed on 6th, July 2006. Its reopening not only enhanced benefits of trade, but has also increased tourism in Sikkim and provided a means of livelihood for people of this region.
- India’s trade list comprised of two sections. Export list comprised of 36 items from dairy products to utensils and Import list includes a total of 20 items, namely carpets, quilts and jackets among others from the Tibet Autonomous Region (TAR).
- In 2018 the goods export from India stood at Rs 45.03 crore, while items imported from the TAR were worth Rs 3.23 crore.
The three open trading border posts between India and China are-
- Nathu La in Sikkim
- Shipkila in Himachal Pradesh
- Lipulekh (or Lipulech) in Uttarakhand.
Month: Current Affairs - May, 2019