China's ambassador to India, Luo Zhaohui, tweeted on Wednesday that China will reduce or cancel tariffs on imports of 8,549 types of goods from India, South Korea, Bangladesh, Laos and Sri Lanka. The goods include chemicals, agricultural and medical products, soybeans, clothing, and steel and aluminum products.
Some analysts note that many items on the list coincide with items that China has established higher tariffs for US-origin goods.
Ajay Sahai, director general at Federation of Indian Export Organisations (FIEO), asked for regulatory clearances to also be simplified especially for pharmaceutical and agricultural goods as that would "truly benefit Indian exporters possibly more than just the tariffs.”