Trade deficit between India and China stood at USD 30.07 billion during April-September 2021, Parliament was knowledgeable on Wednesday.
India’s exports to China during the April-September 2021 interval was USD 12.26 billion, whereas imports have been aggregated at USD 42.33 billion, in accordance with knowledge given by Minister of State for Commerce and Industry Anupriya Patel in a written reply to the Lok Sabha.
She mentioned the imports from China have elevated from USD 60.41 billion in 2014-15 to USD 65.21 billion in 2020-21, exhibiting a rise of seven.94 per cent over six years.
However, the imports have been static between 2019-20 and 2020-21, she mentioned.
“The authorities has made sustained efforts to realize a extra balanced trade with China, together with bilateral engagements to handle the non-tariff boundaries on Indian exports to China,” Patel mentioned.
Schemes just like the production-linked incentive scheme will assist promote home manufacturing capacities and appeal to funding and scale back dependency on imports from China, the minister mentioned.
Major objects of import from China embody telecom devices, pc {hardware}, fertiliser, digital parts, chemical compounds and drug intermediates.
