India is constantly trying to reduce imports from China. But so far he has not succeeded. Recent statistics show that trade between India and China has reached an all-time high. At the same time, India’s trade deficit has crossed $100 billion. Read this complete news…
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India has come up with many schemes from ‘Make in India’ to ‘PLI Scheme’ to challenge China. But the import of Chinese goods in India is increasing instead of decreasing. Despite the strained relations between the two countries, if we look at the latest figures for 2022, trade between the two countries has reached an all-time high.
Not only that, India’s trade deficit has crossed $100 billion. That is, instead of exporting to China, India imports more from there.
Both are business all-time highs
China’s customs department released trade statistics between India and China on Friday. As such, in 2022 the trade between the two countries was 135.98 billion dollars. This is also 8.4 percent higher than last year’s $125 billion and is the highest level ever.
Exports and imports of China to India
Statistics show that China exported goods worth $118.5 billion to India. This is 21.7 percent higher than in 2021. On the other hand, China imported only $17.48 billion worth of goods from India. This is 37.9 percent less than in 2021.
Thus, India’s trade deficit with China increased to $101.02 billion. In 2021 it was $69.38 billion.
(This news is being updated)