China’s export control on tunnel boring machines may affect construction in India’s border areas
"They (China) are also providing us important intermediate goods, important raw materials. If in any particular product, we find that the fair play or pricing is not proper, then there's an established judicial process, which is conducted. Other than that, we believe in the rules of fair play; we believe in the rules of open trade ...we welcome suppliers to meet the growing needs of India," Goyal told reporters here.
He was replying to a question on India-China trade relations in the coming years. The minister was here on a two-day official visit. "We are looking to open markets in different countries on a reciprocal basis for our goods and services. And I do hope that in the years to come, we will see India becoming a major exporter of goods and services to China and the ASEAN region also," he said.
Goyal's latest remarks came nearly two weeks after the minister, on October 14, stated that India is working to rebuild its relations with China, but the last word on this journey has not yet been scripted. There are also issues related to investments from China as India has tightened its foreign direct investment (FDI) policy for countries sharing land borders with it. When asked about China's new export controls on key machinery, including tunnel boring machines, the minister said, "We will work on it." The restrictions on exports of tunnel boring machines (TBMs) and related items could affect several Indian projects, including underground metro systems, high-speed rail lines and tunnels in various border areas.
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