What is the trade deficit between India and China ?
Government of India has been taking continuous and sustained steps to bridge trade deficit by lowering the trade barriers for Indian exports to China. During the 11th session of India-China Joint Group on Economic Relations(JEG) held in New Delhi on 26 March 2018, the Trade Ministers of two countries agreed to increasing bilateral trade between the two countries in a balanced and more sustainable manner. In this regard various meetings have been held with Chinese counterparts as a part of ongoing efforts to seek market access for various Indian agricultural products, animal feeds, oil seeds, milk and milk products, pharmaceutical products etc., in light of the potential of these products/services in the Chinese market. Also protocols have been signed to facilitate export of Indian rice, rapeseed meal, fishmeal – fish oil and tobacco leaves from India to China.
The details of the imports from China during 2015-16, 2016-17, 2017-18 & 2018-19 (April-December)are given below: –
|
Year |
Import (Value in USDMillion) |
|
2015-16 |
61707.95 |
|
2016-17 |
61283.03 |
|
2017-18 |
76380.70 |
|
2018-19 (upto December, 2018)* |
53878.06 |
