India’s trade with China stands at $50.19 bn, deficit at $36.73 bn in Apr-Oct
The Dollar Business Bureau
During the first seven months of 2017-18, the trade deficit with China stood at $36.73 billion against the $51.11 billion in the fiscal of 2016-17, Minister of State for Commerce & Industry CR Chaudhary informed the Parliament on Monday.
During the period April to October, India’s bilateral trade with China stood at $50.19 billion as compared to $71.45 billion in the entire financial year of 2016-17, as per the provisional data for the period placed by Chaudhary in the Lok Sabha.
“Increasing trade deficit with China can be attributed primarily to the fact that Chinese exports to India rely strongly on manufactured items to meet the demand of fast expanding sectors like telecom and power, while India's exports to China are characterised by primary and intermediate products,” the Minister stated.
Foreign direct investment (FDI) from China into India, though increasing, has been insignificant as compared to its overall investment abroad, according to the official data.
Presently, China is at 17th position in terms of FDI inflows into India. Since April 2000 to September this year, the combined FDI inflows from China into India stood at $1.73 billion.