Beijing Lifts Curbs, Trade With India Resumes

New Delhi: India on Friday confirmed that China has lifted certain export restrictions, leading to the resumption of supply of rare earths, fertilisers, and tunnel-boring machines to India.

New Delhi also said it is examining proposals on the Shanghai Cooperation Organisation (SCO) Development Bank that were made earlier this week at the SCO Summit in Tianjin.

Sources had said last month that Chinese foreign minister Wang Yi had “assured” External Affairs Minister (EAM) S. Jaishankar during bilateral talks in New Delhi that “China is addressing India’s needs of rare earths, fertilisers, and tunnel-boring machines.”

In what is being seen as a strategic reset of ties between the two Asian giants amid rising US economic threats and tariffs globally, Prime Minister Narendra Modi met Chinese President Xi Jinping in a nearly hourlong bilateral meeting earlier this week in Tianjin. During the talks in New Delhi, both the leaders “deemed it necessary to expand common ground on bilateral, regional, and global issues and challenges such as terrorism and fair trade in multilateral platforms.”