China’s share in India’s industrial goods imports has increased from 21 percent to 30 percent in the last 15 years.
According to a report by economic think tank Global Trade Research Initiative (GTRI), this figure increased with India’s increasing dependence on China’s industrial goods like telecommunications, machinery and electronics.
The report is released by the economic think tank Global Trade Research Initiative (GTRI).
India’s yearly exports to China have remained steady between 2019 and 2024, totalling about USD 16 billion.
China’s imports have increased from USD 70.3 billion in 2018–19 to over USD 101 billion in 2023–24.
Over the course of five years, this led to a cumulative trade deficit that was more than USD 387 billion.
Concerns are raised by the widening trade deficit with China. This has important ramifications for economic stability and national security.
According to the report, India’s imports from all other nations are expanding at a rate that is 2.3 times slower than China’s exports to India.
China contributed USD 101.8 billion to India’s total merchandise imports of USD 677.2 billion in the fiscal year 2023–24.
This suggests that 15% of India’s total imports came from China.
China contributes USD 19 billion to the machinery sector, accounting for 39.6% of India’s imports in this area.
China accounted for USD 15.8 billion, or 29.2%, of India’s total imports of chemicals and pharmaceuticals during the period, which reached USD 54.1 billion.
