India’s trade deficit with China dips to $48.66 billion in FY20
India’s trade deficit with China fell to $48.66 billion in 2019-20 on account of the decline in imports from the neighbouring country, according to government data.
Exports to China in the last financial year stood at $16.6 billion, while imports aggregated at $65.26 billion, the data showed. The trade deficit stood at $53.56 billion in 2018-19 and $63 billion in 2017-18.
The main imports from China include clocks and watches, musical instruments, toys, sports goods, furniture, mattresses, plastics, electrical machinery, electronic equipment, chemicals, iron and steel items, fertilisers, mineral fuel and metals.
India has time and again raised concerns over the widening trade deficit with China. The government is framing technical regulations and quality norms for several products...