| Date: |
31-03-2010 |
| Subject: |
India denies market-economy tag to China |
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NEW DELHI: India says it will be difficult to give a ‘market economy’ status to China as it has refused to provide information on key business aspects such as land laws, minimum wages and accounting systems.
A market economy status will mean that India will have to accept all economic data including on product prices supplied by China. This will make it difficult to fight anti-dumping cases against Chinese companies.
China has refused to answer a detailed questionnaire sent by India seeking information on what it takes to do business there and if the country meets the necessary conditions for a market status. It says the issue is political.
“Since we did make a move in the right direction and were snubbed, the onus is on them to make the next move,” a commerce department official said.
Source : The Economic Times
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