Despite chill in ties, India-China trade on course to touch record USD 100 billion-mark

From India’s point of view the trade deficit, which remained a concern over the years, reached USD 46.55 billion and is expected to climb further by the year-end

Despite chill in ties, India-China trade on course to touch record USD 100 billion-mark

Photo for representation. — Reuters

Beijing, October 13

The India-China trade volume looks set to cross the record figure of USD 100 billion this year as the total has already touched USD 90 billion in the first nine months, despite a chill in bilateral relations due to the continuing military standoff between the two countries in eastern Ladakh.

China’s total imports and exports expanded 22.7 per cent year on year to 28.33 trillion yuan (about USD 4.38 trillion) in the first three quarters of 2021, official data showed on Wednesday.

The figure marked an increase of 23.4 per cent from the pre-epidemic level in 2019, according to the General Administration of Customs.

The bilateral trade between India and China totalled to USD 90.37 billion by the end of September, an increase of 49.3 per cent year-on-year (YoY), according to the nine-month data released by the Chinese customs.

China’s exports to India went up to USD 68.46 billion up 51.7 per cent YoY, apparently aided by massive imports of urgent supplies, like oxygen concentrators, when India was in the grip of the second wave of the Covid-19 pandemic in April and May this year.

The Indian exports totalled to USD 21.91 billion, registering a noteworthy increase of 42.5 per cent.

However, from India’s point of view the trade deficit, which remained a concern over the years, reached USD 46.55 billion and is expected to climb further by the year-end.

Observers say with three months still remaining, the target of USD 100 billion trade previously set by both the countries was expected to be reached this year despite the eastern Ladakh impasse. PTI

Tribune Shorts

Top Stories

Amit Shah reiterates ‘roadmap’ for J-K polls and statehood restoration, reaches out to youth

Amit Shah reiterates ‘roadmap’ for J-K polls and statehood restoration, reaches out to youth

Government will not allow anyone to create hurdles in the pa...

Singapore removes India, 5 other South Asian nations from travel restriction list

Singapore removes India, 5 other South Asian nations from travel restriction list

Travellers will, however, be subjected to the tightest of bo...

CISCE to conduct board exams in offline mode, announces revised date sheet

CISCE to conduct board exams in offline mode, announces revised date sheet

Exams for Class 10 from November 29 and December 16; from No...

Want to join Congress? Must pledge to not criticise party publicly and to stay off drugs, liquor

Want to join Congress? Must pledge to not criticise party publicly and to stay off drugs, liquor

CWC recently approved organisational election schedule of th...

Travel blogger from Himachal, living in California, was among 2 killed in Mexico's Tulum

Travel blogger from Himachal, living in California, was among 2 killed in Mexico's Tulum

Anjali Ryot and the German woman were killed, while the thre...

Cities

View All