Social News XYZ     

China-India trade at record high despite border tension

China-India trade at record high despite border tension

New Delhi, Jan 15 (SocialNews.XYZ) An increase in China-India trade in 2021, which reached a record high surpassing $125 billion amid bilateral tensions, is just another piece of proof that New Delhi is unable to reduce its dependence on the Chinese market, Beijing's state media claimed.

The total amount of trade between China and India in 2021 stood at $125.66 billion, up 43.3 per cent from 2020, said the Global Times report citing statistics released by the General Administration of Customs (GAC).


Of which, China's exports to India were $97.52 billion, up 46.2 per cent, while China imported $28.14 billion worth of goods from India, up 34.2 per cent.

Analysts attributed the surge in trade to the complementary aspects of the industrial chains of the two countries.

For example, about 50-60 per cent of chemicals and other materials used by the Indian pharmaceutical industry, which is a pillar industry, are imported from China.

India was China's 15th largest trade partner in 2021, the Global Times quoted the GAC as saying.

"Analysts said that the boycott of Made-in-China products will not balance the trade deficit and that boosting India's exports to China is the right choice. Meanwhile, India should not exclude China when it seeks free trade agreements as China is already involved in international free trade mechanisms," the Global Times said.

Total trade between China and countries that have signed the Regional Comprehensive Economic Partnership (RCEP) - 10 members of the Association of Southeast Asian Nations (ASEAN), Japan, South Korea, Australia and New Zealand - expanded significantly in 2021.

Source: IANS

Facebook Comments
China-India trade at record high despite border tension

About Gopi

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.

He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.

When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.

He can be reached at

PHP Code Snippets Powered By :
%d bloggers like this: