According to the latest data compiled by the DGCIS, in the first quarter of 2018, trade with China had increased by $23.81 billion in comparison to the last year for same period
Despite the tensed relationship with China at the border, especially after the Doklam standoff and over other national security issues, India’s trade with China has been constantly increasing. According to the latest data compiled by the Directorate General of Commercial Intelligence and Statistics (DGCIS), in the first quarter of 2018, trade with China had increased by $23.81 billion in comparison to the last year for same period.
During the first quarter of 2018, total trade grew to $23.81 billion, up by 25.97% from $18.90 billion in the corresponding period of the previous year.
“India’s exports to China grew by 20.55% (approximately) from $3.26 billion to $3.93 billion, while India’s imports from China also increased by 27.04% from $15.64 billion to $19.88 billion,” minister of commerce & industry CR Chaudhary said in Parliament.
Even if we compare the annual data of trade with China, India-China bilateral goods trade had reached $84.69 billion in 2017 - an increase of over 21.6% over the calendar year 2016. This value in 2017 is the highest in India-China trade relations so far.
“India’s exports to China during calendar year 2017 also increased by 12.66 billion as compared to $8.96 billion during the calendar year 2016, showing an increase of over 41.2% over the previous year,” the minister added.
According to the DGCIS data, India’s imports from China during calendar year 2017 stood at $72.03 billion as compared to $60.64 billion during the calendar year 2016, showing an increase of 18.78% over the previous year.
Increase in trade is despite tensed bilateral relations over a number of issues, including the China-Pakistan Economic Corridor, China’s obstructive approach towards India's efforts to bring a UN ban on Jaish-e-Mohammad leader Masood Azhar, military standoff at Doklam and so on.
Read Exclusive COVID-19 Coronavirus News updates, at MyNation.
Last Updated 31, Jul 2018, 5:20 PM