India China Import Export : Before the Corona period, there was vigorous trade going on between India and China, but as soon as the Kovid-19 virus entered China. After that, the whole world thought it appropriate to distance itself from China. Now the Corona period seems to be over, so trade between India and China is expected to be back on track as before. There is a decline in the import business of some things.
The share of Chinese goods decreased
In India, there is more import of IT, medical and scientific products from China. Let us tell you that the share of Chinese goods in the total imports of the country has decreased by 0.90%. Also, its share was 16.5% in 2020-21, which has come down to 15.4% in 20210–22. Mobile phone imports from China declined by 55% to $626 million in 2021-22. In the year before that, it was $1.4 billion.
Exports from India to China increased
The goods that come more from China to India include telecommunications and energy sectors. Exports from India to China have increased marginally to $21.25 billion. 1 year ago it was $ 21.18 billion. Whereas imports have increased from $ 65 billion in 2020-21 to $ 94.16 billion in 2021-22.
Third largest exporting country after US, UAE
India’s exports to China stood at $21.2 billion in 2021-22. It has become the third largest exporting country after the US and the United Arab Emirates (UAE).