By Peter TothSource: Reuters| December 07, 2018 13:08:22The BKIBiz, also known as the BKIBS, has been operating since 2015 in the Indian capital Delhi, but it has also expanded to other parts of the country and the United States.
It is a network of nearly 10,000 companies that offers commercial, industrial and household goods.
Its products include refrigerators, air conditioners, air conditioning, washing machines, dryers, dishwashers, air compressors, water pumps, dishwashing equipment, dishwasher machines, refrigerators and dishwasher units.
Its main hub is in the northern city of Jammu and Kashmir and is used for its bulk-buying and for other purposes.
India’s trade minister said on Wednesday that the trade deficit with the US, its largest trading partner, would be in the region of $12 billion for the next fiscal year.
It is unclear what will happen with the trade surplus in 2019.
India has been grappling with the emergence of an international BKIBS, a network that has become a source of frustration among Indian officials and the Indian public.
The trade surplus was pegged at $12.3 billion in 2017.
But a number of trade agreements signed with US states and other countries over the last decade, including the South Asia Free Trade Agreement (SAFTA) with Pakistan, have raised concerns about the impact on India.
A report by the Indian Institute of Management, Delhi, found that the US has increased the trade gap with India by $12bn in the past decade.
In a letter to the government, IIT-Delhi’s Rakesh Sharma wrote: “The economic impacts of the US’s implementation of the Trans-Pacific Partnership (TPP) are not only on India, but also on the economies of other countries.
It will have a severe impact on the Indian economy, and the impact of the agreement will be felt for years to come.”
India has said the trade agreements with the TPP partner countries have led to the loss of millions of jobs and has been detrimental to India’s national interest.