India's trade deficit with China crosses $100 billion -

New Delhi: Tension has arisen between India and China over the LAC from Ladakh to Tawang in Arunachal Pradesh. Surprisingly, this tension has not affected the trade between India and China. The annual bilateral trade between India and China has crossed $135 billion. At the same time, India’s trade deficit has exceeded $100 billion. These statistics have come out recently.

This data reveals that China is still taking advantage of India’s market and China is not ready to open its market to Indian companies for agriculture, pharmaceuticals and IT sectors where India can benefit from trade. The effect of this is seen in the trade between the two countries. The deficit that India has to bear in this trade has exceeded $100 billion. China’s exports to India are worth $118.5 billion. According to the data for 2022, the export from India to China is $17.48 billion.

Moreover, China is unwilling to give concessions to India in bilateral trade, but taking advantage of India’s generosity, China is taking advantage of India’s market as much as possible. However, this bilateral trade includes a large amount of raw materials for Indian industries from China. According to experts, the export of such products, which were exported from China to India in the past, has decreased. Experts warn that if the import from China is to be reduced in the future, steps will have to be taken to produce the raw materials required for the Indian industry at the domestic level.

Furthermore, it is claimed that trade between the two countries is becoming one-sided as China is not giving India opportunities in the pharmaceutical and IT sectors. For this, India has also started efforts to put pressure on China. Once Indian companies find opportunities in this sector in China, the dynamics of this bilateral trade may change. Being aware of this, it has become clear that China is not giving India a chance in this field. Experts are pointing out that China is not ready to allow Indian companies to enter its country even when there is a demand for drugs used for cancer treatment manufactured in India. These experts say that China is showing its anti-India stance through this.

मराठी हिंदी