India, China exchange tariff cut offers 
According to reports, India and China have exchanged offers on the removal of a list of tariffs on import of goods. Against India's offer to remove 42.5% of tariff lines, China has expressed willingness to abolish the same amount of tariff. Notably, India's merchandise exports to China for 2014-15 stood at $11.9 billion against China's $60.4 billion exports to India.     