India's trade deficit with China dips to USD 44 billion in 2020-21

[艹艹艹]

India's trade deficit with China dips to USD 44 billion in 2020-21
India's trade deficit with China dips to USD 44 billion in 2020-21
PTILast Updated: Aug 06, 2021, 04:54 PM IST

India's trade deficit with China has declined from USD 53.57 billion in 2018-19 to USD 44.02 billion in 2020-21, Minister of State for Commerce and Industry Anupriya Patel said on Friday. Exports to China has increased to USD 21.19 billion in 2020-21 from USD 16.61 billion in 2019-20, Patel said in a written reply to the Rajya Sabha. Exports were USD 16.75 billion in 2018-19.

Imports from China during 2018-19, 2019-20 and 2020-21 were worth USD 70.32 billion, USD 65.26 billion and USD 65.21 billion, respectively.

In a separate reply, she said the decline in India's export of automobiles, including cars, is largely due to global economic slowdown and supply chain disruptions due to Covid-19 pandemic.

"With a view to create a conducive manufacturing ecosystem and to enable integration with global supply chains, the Union Cabinet on 11th November, 2020 has given approval to introduce the Production-Linked Incentive (PLI) Scheme for Automobiles and Auto components, with a financial outlay of Rs 57,042 crore over a five-year period, to make the Indian Automotive Industry more competitive," she added.

 

[艹艹艹]

 

[艹艹艹]

China is by far India’s biggest source of imports at over $65 billion, and for all the anti-China hullabaloo, the decline has been a mere 0.07 per cent. At the same time, India’s imports from the US went down 19.4 per cent to $28.88 billion, while overall imports decreased by more than 17 per cent to $393.6 billion.

 

[mmr]

No one is surprised lol.

China has trade surplus with every one.

Ppl will buy made in China because its cheaper and good quality.

 

[hualushui]

Can any country get rich by trading with China?

Are there examples of successful FTAs with China that transformed the economy of a country

Like EU, US (major importing nations)

I am just trying to pin it down, like what exactly is the benefit of a FTA with China?

From what I understand you get cheaper imports but you have to sell your product to west

So basically you are dependent on west for exports (and making money)

You make money from west

But buy cheap imports from China?

An ignorant person.
China’s annual trade surplus is 350 billion U.S. dollars, and China’s annual trade surplus with the United States is also 350 billion U.S. dollars.
In other words, excluding the United States, China's trade balance with other countries in the world.

You are trying to provoke hostility from other countries towards China and put China in the position of unethical trade.
But your ignorance made your attempt to fail

 

[Maula Jatt]

An ignorant person.
China’s annual trade surplus is 350 billion U.S. dollars, and China’s annual trade surplus with the United States is also 350 billion U.S. dollars.
In other words, excluding the United States, China's trade balance with other countries in the world.

You are trying to provoke hostility from other countries towards China and put China in the position of unethical trade.
But your ignorance made your attempt to fail

Lol, calm down, why you gotta be so uptight lol...

This was more about usefulness of FTA, trade defecit etc

(Thankfully) @TOTUU already answered my question in detail in another thread about trade defecits etc (deleted it as it's already answered in another thread)

 

[Pakistan Space Agency]

I thought Indians had defeated China by banning Apps. So what's this?