India’s imports from China decelerating, says report
- India’s imports from China stood at $60 billion during the April-January period of 2018-19 fiscal, a deceleration of 5% over the corresponding period a year ago.
- According to the chamber, India’s trade deficit with China also eased to $46 billion in April-January 2019 from $53 billion in the same period a year ago.
- Indian shipments to China totalled $13.33 billion in 2017-18 (April-March), whereas the country’s imports from China stood at $76.38 billion in the period.
- India has identified and shared with China a list of 380 products including horticulture, textiles, chemicals and pharmaceuticals, as their shipments hold huge export potential in the neighbouring country.
- Increasing exports of these products would help India narrow the widening trade deficit with China, which stood at $50.12 billion during April-February 2018-19.