The volume of India's imports from China has increased by 3.24 percent to 101.7 billion dollars, while exports from India to China have increased by 8.7 percent to 16.67 billion dollars. Report of the Global Trade Research Initiative
Friday, May 17, 2024
New Delhi (Urdu Point Newspaper Latest - International Press Agency. May 17, 2024) China has become India's largest trading partner with a trade of 118.4 billion dollars. The volume of India's imports from China has increased by 3.24 percent to 101.7 billion dollars. While the exports from India to China have increased by 8.7% to 16.67 billion dollars.
According to the Global Trade Research Initiative (GTRI), the trade between the two countries reached 118.4 billion dollars in the current fiscal year. Bilateral trade stood at $118.4 billion. GTRI says that India has implemented anti-dumping taxes and quality control regulations to reduce imports from China, but its impact on India's imports is not visible. In the fiscal year 2024, India bought lithium-ion batteries worth 2.2 billion dollars from China, which is 75 percent of the imports in the region. In addition, 44 percent of the imports related to telecom equipment and phones come from China, which are worth about 4.2 billion dollars.
Earlier in 2017, there was a tense situation between India and China on the border near Bhutan for 71 days and then in 2020 there was a bloody clash between the soldiers of the two countries in the Galwan Valley. After the two countries increased the number of soldiers on the border, India has also discussed the issue of border security with the member countries of the Quad organization, Japan, America and Australia.
Indian government banned some Chinese mobile apps in June 2020 India banned 59 Chinese apps citing security and privacy risks, followed by 47 apps on August 10, 118 apps on September 1 And on November 19, 43 mobile apps were banned. In June 2020, the Chinese apps that were banned included Tik Tok.
According to the available data, the trade between India and China which was only 2.92 billion dollars till 2000, which increased to 41.85 billion dollars in 2008. In the year 2000, there was no major change in the imports and exports of the two countries, but after the year 2006, it The gap increased further in the year 2007, India made exports of 14.61 billion dollars while imports of 24.05 billion dollars. Chinese Premier Wen Jiabao visited India in December 2010, after which the trade between the two countries increased to 100 billion by 2015. It was decided to increase to the dollar, but the gap between imports and exports has also widened
