External factors unlikely to disrupt India-China trade as both back multilateral trade, says Consul General Qin Jie

India-China trade is unlikely to be influenced by external geopolitical or economic developments, as both countries are large economies that support multilateralism and global trade frameworks, China’s Consul General in Mumbai Qin Jie said on Saturday.Speaking to PTI on the sidelines of the International Business Conclave at Advantage Vidarbha 2026 in Nagpur, the diplomat said bilateral economic engagement between the two neighbours has strong structural foundations.When asked how India-China trade may evolve amid India’s recent trade agreements with other global partners, he said external developments are unlikely to have a major impact.“Because India is a very big economy and China is also a very large economy. We are countries that both support multilateralism and multilateral trade and multicultural exchange,” he said.On India’s trade engagements with the United States and the European Union, Qin Jie said India is sovereign in shaping its external partnerships but emphasised the need for continued bilateral cooperation between India and China.“India is free to decide its relations with the EU or other parts of the world… But for India and China, we should continue cooperation, strengthen ties, and maintain communication in many fields,” he said.Responding to a question on whether India should revisit Press Note 3 issued in 2020, which mandates prior government approval for foreign direct investment from countries sharing land borders with India, Qin Jie said he had seen reports indicating that India may already be reviewing the policy.“I think it is a very positive and good move because we need our investors, our (China-India) business and communities to come together, and we need a lot of cooperation in various fields like cultural, education and artistic communication,” he said.The Chinese Consulate General also said China is looking forward to stronger mutual engagement, increased two-way exchanges and deeper people-to-people ties with India.On the ‘China Plus One’ strategy, under which global firms diversify supply chains beyond China, Qin Jie said India and China should focus on complementary strengths rather than competitive positioning.“We should look at how we can work together, rather than on who replaces whom,” he said, noting China’s manufacturing strengths and India’s capabilities in software and services.The China Plus One strategy broadly refers to companies expanding manufacturing or sourcing beyond China to diversify supply chain risks.