INDIA-CHINA .. Huge trade deficit between India and China continues; India sends too little to China

NEW DELHI: India’s trade deficit with China was 391.7 billion yuan ($56.8 billion) in 2019, an official from China’s General Administration of Customs (GAC) was quoted as saying earlier this week. India exports too little to China, and China sends in too much to India – and this is no secret for many years now. India’s manufacturing sector is failing to pick up momentum, despite PM Modi’s push for ‘Make in India’ scheme he launched when he took power in 2014.
“Total bilateral trade was 639.5 billion yuan (about $93 billion) in 2019, up 1.6 percent year-on-year. China’s exports to India stood at 515.6 billion yuan (about $75 billion), up 2.1 percent, and India’s exports to China totaled 123.9 billion yuan ($18 billion), down 0.2 percent year-on-year,” Huang Guohua, a vice director of the GAC’s analysis department was quoted by Hindustan Times as saying.
“In the past 5 years, China’s imports from India increased by 15 percent,” the report said. The trade deficit in 2018, according to the official Chinese data, was $ 57.86 billion while in 2017 it was $51.72 billion. –IHN-NN
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