January 31, 2022
Imports also saw an increase of 28% i.e. US$87.5 billion in 2021.
Trade deficit has increased to US$64.5 billion last year as compared to US$ 51.2 billion in 2019.
India’s exports to China have increased at a faster rate than its imports from China in 2021 when compared to 2019.
In 2021, US had taken the top-most position as India’s merchandise trade partner with a value of US$112.3 billion.
India’s exports to China have increased by 34% to US$22.9 billion from US$17.1 billion in 2019, as per data from the Ministry of Commerce. Imports also saw an increase of 28%, growing to US$ 87.5 billion in 2021 as compared to US$ 68.4 billion in 2019.
Trade deficit has increased to US$64.5 billion last year as compared to US$51.2 billion in 2019. India’s exports to China have increased at a faster rate than its imports from China in 2021 when compared to 2019.
Khalid Khan, Vice-President of the Federation Of Indian Export Organisations also said that there is huge export potential for Indian exporters in China. The raw materials, capital goods and intermediate goods imported from China increased in 2021 as compared to in 2019, imports of consumer goods have fallen from 14.7% in 2019 to 10.4% in 2021, according to an expert.
In 2021, US had taken the top-most position as India’s merchandise trade partner with a value of US$112.3 billion. Along with the US, Trade with China accounted for US$110.4 billion, UAE accounted for US$ 68.4 billion, Saudi Arabia for US$ 35.6 billion and Switzerland for US$30.8 billion along with Hong Kong at US$29.5 billion.
