New Delhi: The trade deficit , between India and China has touched $51.5 billion during April-October this fiscal year. Union Commerce and Industry Minister Piyush Goyal informed this in a written reply to the Rajya Sabha. Trade deficit is the difference between import and exports.
The deficit during 2021-22 had jumped to $73.31 billion as compared to 44.03 billion in 2020-21. Imports during April-October this fiscal stood at $60.27 billion. Exports were at $8.77 billion.
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The merchandise exports from India to China have increased from $11.93 billion in 2014-15 to $21.26 billion in 2021-22. It reported an increase of 78.2% over the last six years. Imports from China have increased from $60.41 billion in 2014-15 to $94.57 billion in 2021-22.
The major goods imported from China include electronic goods, organic and inorganic chemicals, medicinal and pharmaceutical products, fertilisers, crude and manufactured and dyeing/tanning/colouring materials.