Trade Deficit Between India and China

Trade Deficit Between India and China

GANDHINAGAR, WNS: The details of export/import and trade deficit between India and China during the last three financial years and current financial year are given below: -

 

Financial Year

Trade in Million US$

Trade Deficit

EXPORT

IMPORT

2017-18

13333.53

76380.70

63047.16

2018-19

16752.20

70319.64

53567.43

2019-20

16612.75

65260.75

48647.99

2020-21 (Apr-Nov)*

13639.18

38817.90

25178.72

 

(Source: DGCIS)

*Provisionl

The Government of India 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. Through these efforts, various protocols have been signed to facilitate export of Indian rice, tobacco, fishmeal /fish oil and chilli meal from India to China. The Government has also taken various measures to extend support to exporters by facilitating Buyers Seller Meets between potential importers of China and the Indian exporters to increase exports. In addition, Indian exporters are encouraged to participate in major trade fairs to showcase Indian products.

The Government has taken theinitiative to sensitize the Export Promotion Councils /Trade Bodies to enhance export of Indian goods.

The Government has also implemented policies to promote domestic manufacturing through ease of doing business and creating an enabling physical environment for manufacturing, through provision of developed land and infrastructure.

This information was given by the Minister of State in the Ministry of Commerce and Industry, Shri Hardeep Singh Puri, in a written reply in the Lok Sabha today.

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