Chinese exports to India decline in 11 months of 2020

Chinese exports to India decline in 11 months of 2020

BEIJING: China’s exports to India declined by 13 per cent in the first 11 months of the year, while Indian exports to China rose 16 per cent in the same period, according to Chinese customs data released on Monday.
The bilateral trade in the first 11 months of 2020 touched $78 billion, amidst border tensions between the two countries in eastern Ladakh.
The two countries traded about $92.68 billion worth of goods in 2019.
According to customs data released on Monday, China exported about $59 billion worth of products to India from January to November, down 13 per cent, a report in the state-run Global Times said.
China’s imports from India stood at about $19 billion in the first 11 months, up 16 per cent.
India’s trade deficit stood at $40 billion from over $60 billion in the previous financial year.
Amidst border tensions, New Delhi has banned over 200 Chinese applications as they posed a threat to the “sovereignty and integrity of India”.
India and China have been locked in a military standoff along the Line of Actual Control (LAC) in eastern Ladakh since May this year.
Multiple rounds of talks between the two sides to resolve the standoff have not yielded any concrete outcome.

Source From : Times Of India

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