India's trade deficit with China swells $53 billion in 2015-16
The Dollar Business Bureau India's trade deficit with China has surged to $52.68 billion in the 2015-16 fiscal from $48.48 billion in 2014-15, a senior minister informed on Monday. "Increasing trade deficit with China can be attributed to the relative demand for imports in India and China for each other's goods," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. Sithraman underscored that the government is trying to diversify the country’s exports basket, while focusing on cutting its import bills. She said India would focus on exporting manufactured goods and services to its neighbor, and it would also streamline market access issues and non-tariff barriers. India imports majorly chemicals and drug intermediaries, computer hardware and peripherals, electronic components, fertilisers, ...
Indias trade deficit with China surges to $51.86 billion in 2015
The Dollar Business Bureau India’s trade deficit with China swelled up to $51.86 billion in 2015, Commerce Minister Nirmala Sitharaman informed the Parliament on Monday. "Increasing trade deficit with China can primarily be attributed to the fact that Chinese exports to India rely strongly on manufactured items meeting the demand of fast-expanding sectors like telecom and power while India's exports to China are characterised by primary products, raw material and intermediate products," Sitharaman said in a written reply to the Lok Sabha. Sitharaman said India’s bilateral trade with China was $71.22 billion in 2015. Though India’s exports to China stood at a meagre $9.68 billion its imports surged to a huge $61.54 billion. In another reply, the Commerce Minister said Indian ...
