India’s exports to China increased by around 34% to $22.9 billion in 2021 from $17.1 billion in 2019, according to Commerce Ministry data.

Imports, on the other hand, increased by 28% to reach USD 87.5 billion in 2021 from USD 68.4 billion in 2019.



According to the data, the trade deficit increased to $64.5 billion last year from $51.2 billion in 2019.

Trade experts said India’s exports to China grew at a faster rate than its imports from China in 2021 compared to the normal year of 2019.

Khalid Khan, vice president of the Federation of Indian Export Organizations, said huge export potential exists for Indian exporters in China.

“Our exporters are doing pretty well in China. We can push our exports further,” Khan said.

The share of imports of raw materials, intermediate goods and capital goods from China increased in 2021 compared to 2019, while imports of consumer goods fell from 14.7% in 2019 to 10, 4% in 2021, said another expert.

Moreover, in 2021, the United States ranked first as India’s merchandise trading partner with a value of $112.3 billion. America was followed by China (110.4 billion USD), the United Arab Emirates (68.4 billion), Saudi Arabia (35.6 billion USD), Switzerland (30.8 billion USD) and Hong Kong ($29.5 billion).

“There is a change in the trade growth pattern in 2021 compared to 2020. In the post-COVID-19 period, India’s merchandise trade with all other major trading partners except Hong Kong and Singapore, recorded higher growth than the growth recorded with China in 2021 compared to 2020,” added an expert.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor