India China Trade: A good news is emerging amid the negative impact of American tariffs on the Indian economy. There seems to be improvement in trade relations with India’s neighboring country China. In the first seven months of this financial year, India’s exports to China have been increasing every month.
In the month of October, a jump of 42 percent was seen. This means that the path to China’s markets is becoming easier for Indian exporters. Due to which the impact of American tariffs is likely to be reduced.
Understand the entire mathematics of business from data
Talking about the figures, between April and October, India has registered a big increase in exports to China. Compared to last year, exports during this period have increased by 24.7 percent to reach 10.03 billion dollars. Petroleum products, telecom equipment and marine products have been exported the most. However, during this period, India’s total exports have registered a growth of only 0.63 percent.
According to a report published in Navbharat Times, this is one of the strongest rounds of India-China trade. He said that this increase has happened at a time when demand is weak worldwide. Also, there is pressure on exports of big economies.
China is the largest importer
Between April and October, China became one of the largest importers of India. During this period, India imported goods worth $73.99 billion from China. Due to such huge import volume, India’s trade deficit between the two countries reached 64 billion dollars. However, this increase in exports has definitely raised hopes of reducing the deficit.
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