Economy / India
Reforms On Hold
July 2006 | Risk SummaryA Chinese envoy to New Delhi has revealed plans to extend a railway system running from Beijing, through Tibet, to a border in India's north-east. The news came soon after the two countries resumed trade through a major Himalayan route, which had been closed since a border war 44 years ago. The countries hope to strengthen economic ties and boost bilateral trade, which is currently being undermined by smuggling. Border smuggling is about 10 times official border trade, which itself only amounts to US$100mn. Officials estimate that trade through the region could reach US$3bn by 2015, and potentially more if
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