Country has highest trade deficit with China: Govt
New Delhi, July 26
India has the highest trade deficit with China in goods but the gap expanded at a lower pace during 2014-15 to 2023-24 as compared to the previous 10 years, Commerce and Industry Minister Piyush Goyal said on Friday.
In a written reply to a question in the Rajya Sabha, the minister said the trade deficit has increased by compound annual growth rate (CAGR) of 42.85 per cent during 2004-05 to 2013-14, while the same has come down to 6.45 per cent during 2014-15 to 2023-24 which clearly indicates the success of the government in containing rate of growth of excessive import growth from China during the past ten years.
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