Rs 5,046 crore to Rs 4.06 lakh crore: India’s trade gap with China | Doonited.India

August 20, 2019

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Rs 5,046 crore to Rs 4.06 lakh crore: India’s trade gap with China

Rs 5,046 crore to Rs 4.06 lakh crore: India’s trade gap with China
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Data shows India’s deficit with China now hovers at 2.4%, as of March 2018. The peak in fiscal 2015-16 at 2.5%.

In the last decade, India’s trade deficit with China has been rising steadily, staying above 2 per cent of gross domestic product since 2011-12, with the exception of 2013-14.

Government data shows the deficit now hovers at 2.4 per cent, as of March 2018, having peaked in fiscal 2015-16 at 2.5 per cent.

Until 2006-07, trade deficit with China was only at 1 per cent of GDP or lower, reflecting the rapid rise of Chinese imports over the last few years.

In absolute terms also, the trade deficit has been increasing since 2010-11 with the exception of 2016-17, when there was a marginal fall, indicating India’s growing dependence on Chinese goods to meet the demands of the local market.

India’s trade deficit with China rose to Rs 4.06 lakh crore in 2017-18, up by 18% from Rs 3.42 lakh crore in the year ago period. In absolute terms, the trade deficit has risen many fold since the levels prevailing in 2003-04. Trade deficit was at Rs 5,046 crore in 2003-04.

During the last 10 years, while exports to China have only doubled, imports from China have more than tripled widening the deficit.

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Post source : AGENCIES

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