India China trade deficit: Data shows imports from China are unaffected
India-China border tensions are not affecting India’s imports from China. As per the Commerce Ministry’s reply to Parliament shows that the trade deficit between India and China stood at USD 30.07 billion during April-September 2021. India’s exports to China during the April-September 2021 period was USD 12.26 billion, while imports were aggregated at USD 42.33 billion, according to data given by Minister of State for Commerce and Industry Anupriya Patel in a written reply to the Lok Sabha.
She said the imports from China have increased from USD 60.41 billion in 2014-15 to USD 65.21 billion in 2020-21, exhibiting an increase of 7.94 percent over six years. However, the imports were static between 2019-20 and 2020-21, she said.
“The Government has made sustained efforts to achieve a more balanced trade with China, including bilateral engagements to address the non-tariff barriers on Indian exports to China,” Patel said. Schemes like the production-linked incentive scheme will help promote domestic manufacturing capacities and attract investment and reduce dependency on imports from China, the Minister said.
Major items of import from China include telecom instruments, computer hardware, fertilizer, electronic components, chemicals, and drug intermediates. Despite many boycott calls on Chinese products after the Galwan Valley border clash with India and China, the data shows that imports from China are literally unaffected.[1]
India mainly exports raw materials to China. Major exports to China from India are iron ore, petroleum products, organic chemicals, spices, marine products, iron and steel, aluminum products, and rice.
References:
[1] India’s imports from China rise despite boycott calls, pandemic. But this may not last – Aug 09, 2021, The Print
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