New Delhi (Sputnik) – Compared to imports, India’s exports to China have grown faster at 38.5% between April and September this year. India exported items worth $5.4 billion to China compared to $3.9 billion between April-September last year. Imports from China, however, have added to India’s worries with the country receiving items worth $42.9 billion from its largest trading partner compared to last year’s $33.2 billion during the same period. This has further widened the trade imbalance in China’s favor by $37.5 billion, which stood at $29.3 billion last year during April-September period. The deficit has been primarily attributed to the massive shipments of electronics and pharmaceuticals from China. The overall trade deficit with China narrowed marginally to $51.08 billion in 2016-17 from $52.69 billion in 2015-16, former commerce minister Nirmala Sitharaman had informed the Lok Sabha during the monsoon session. India’s bilateral trade with China stood at $71.48 billion in 2016-17. READ MORE: China Urges India to Reconsider Joining Belt and Road Initiative The rise in India’s exports has come largely from three sectors: iron ore, cotton yarn & ferroalloys, all raw material and inputs that feed into China’s manufacturing chain. In addition, the Indian government is looking at easier rules for export of agricultural products, including non-basmati rice, identified as an item of significant potential. India Vs China: Trade Deficit pic.twitter.com/9gmdbrH8rx — shaggymusiclove (@shaggymusiclove) 4 ноября 2017 г. India… Read full this story
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