The Hindu Business Line : Silk Route trade volumes touch Rs 59 lakh

Gangtok, Nov. 7 With only 23 trading days left, Chinese traders continue to falter compared to their Sikkimese counterparts while conducting business through the Nathu La border trade point between the Tibetan Autonomous Region (TAR) and Sikkim, official records of the past six months reveal.

The border trade season between Sikkim and TAR traders began from May 19 this year.

The volume of the total business conducted through the fabled Silk Route from May 19 to October 30 this year has been Rs 59 lakh compared with last year’s transactions which stood at Rs 34.6 lakh. The potential was much higher, according to observers.

The Chinese traders could sell items worth Rs 1.35 lakh during the year till October, while the corresponding figure for last year was Rs 6.88 lakh.

On the other hand, Sikkimese traders managed to export items worth Rs 58 lakh to traders from TAR during the past six months. Mostly, edible items were sold to TAR traders.

Commenting on the paltry import volume, Mr Anil Gupta, General-Secretary of Indo-China Border Traders Association of Sikkim, said that the figure would have been much higher if silk imports from China were allowed. “Export transactions could also have reached Rs 1 crore if there was no ban of basmati rice export,” he added.

Low-key participation

He also said that the low-key participation of Indian traders this year was one of the reasons for the unsatisfactory trade volume. Mr Gupta expressed the hope that more new traders would join the trading season which would commence from May next year.

This is the third year of border trade along the 14,400 ft corridor of Nathu La after the historic reopening of the route in July 2006. According to the bilateral agreement, only traders from Sikkim and TAR are allowed to participate in the trade for four days a week during the trading season.

Official records show that traders from Sikkim visited the Renqinggang trade mart in TAR, located 16 km from the border, 1,115 times, while Chinese traders visited the Sherathang trade mart on the Indian side 2,783 times.

A simple closing ceremony will be held at the Sherathang trade mart on November 30.

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