With Prime Minister Narendra Modi visiting China later this month, India on Saturday eased the border trade by raising the transaction value of consignments between the two countries.
“For border trade between India and China, Cost, Insurance and Freight value per consignment is being increased from Rs1,00,000 to Rs2,00,000 in case of Nathula, while for Gunji and Namgaya Shipkila, the existing CIF value limit of Rs25,000 is being enhanced to Rs1,00,000,” the DG of Foreign Trade said. Traders at the border areas primarily import carpets, readymade garments, blankets, shoes, jackets and quilts and export mostly vegetable oil, rice, processed food and canned food.