Indian exports to China witness growth
- Press Information Bureau
- February 7, 2022
India's exports to China have grown from US$ 13.33 billion in 2016-17 to US$ 21.19 billion in 2020-21, indicating a positive trend. In 2018-19, trade with China totaled US$ 87.07 billion, fell to US$ 81.87 billion in 2019-20, and was US$ 86.40 billion in 2020-21.
The merchandise trade data of India’s exports to and imports from China, total trade and trade deficit, for the period FY 2017-18 to FY 2021-22, is as under:
(Values in US$ billion)
|
YEAR |
2017-18 |
2018-19 |
2019-20 |
2020-21 |
|
Import |
76.38 |
70.32 |
65.26 |
65.21 |
|
Export |
13.33 |
16.75 |
16.61 |
21.19 |
|
Total trade |
89.71 |
87.07 |
81.87 |
86.40 |
|
Trade deficit |
63.05 |
53.57 |
48.65 |
44.02 |
(Source: DGCIS)
The Indian government has worked hard to develop a more balanced trade relationship with China, including bilateral discussions to reduce non-tariff impediments to Indian exports to China. The government has also taken anti-dumping, countervailing duty, and other trade remedies against unfair trade practises, as well as created technical rules and issued quality control directives to monitor inferior imports. Efforts have also been undertaken to secure vital supplies from alternative sources and to raise awareness among the relevant ministries/departments about the importance of increasing domestic capacity.
Apart from electronic components and mobiles, white goods (ACs and LEDs), specialty steel, food processing industry, and high efficiency solar PV modules, the government has launched schemes such as Production Linked Incentive Schemes (PLIs) to promote domestic manufacturing capacities in critical sectors such as Key Starting Materials(KSMs)/Drug Intermediates(DIs), Active Pharmaceutical Ingredients(APIs), domestic manufacturing of Medical devices, and for Pharmaceuticals.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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