Trade between India and China has increased between India and China in 2020-21. It is surprising that this has happened in a year when global trade has declined due to the lockdown in many countries to prevent the corona epidemic from spreading.
In the same year, there was tension between the two countries over the issue of border and a prohibitive atmosphere was created against China by taking Chinese app, mobile and investment in India.
According to data released by the Ministry of Commerce and Industry, India imported $ 65.21 billion from China in 2020-21. The figure was $ 65.26 billion in the previous year.
However, exports from India to China stood at $ 21.19 billion, a 27.5 percent increase over the previous year.
Imports of telecom devices declined to $ 6.48 billion due to the central government encouraging local manufacturing and assembly of mobile phone ports. It was $ 15.59 billion in the previous year.
Sugar chemicals continue to be a major source of ingredients for India, particularly for the pharmaceutical industry. Their demand has increased due to increasing demand for medicines. However, the import of automobile components from China has decreased. Iron ore, steel and organic chemicals were exported more from the country to China. Exports were higher due to increase in global prices of steel along with iron ore and this is one of the biggest reasons behind increasing exports from China to China.