Border tensions notwithstanding, India-China trade is at a record high4 min read 01 May 2022, 02:13 PM IST
India’s nonchalance in the face of its large and growing bilateral trade deficit with China is an example of rational commercial relations with a counterparty to a border conflict
India-China trade crossed $100 billion for the first time, reaching $125 billion in 2021. And latest data just out shows the trend won’t change in 2022. China’s trade data for the first quarter of 2022 shows a sharp increase in India’s imports of Chinese goods in January-March 2022 on the back of which bilateral trade grew 15% to a record $31.96 billion. India’s imports surged 28% over the January- March quarter of 2021 to $27.69 billion. Exports were down 26% to $4.87 billion.
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