India’s exports to China surge 53% y-o-y to reach USD 1.24 billion in October

India’s exports to China registered a sharp increase of over 53 per cent year-on-year to reach USD 1.24 billion in […]

   
Prabhu convenes meeeting to discuss exports

India’s exports to China registered a sharp increase of over 53 per cent year-on-year to reach USD 1.24 billion in October, but the trade deficit continued to mount, according to data released by the customs on Sunday. The trade deficit for October stood at USD 3.86 billion. Despite the strains in the bilateral ties, India-China trade increased by 13.56 per cent year-on-year to reach USD 6.33 billion in October. Significantly, India’s exports to China increased by 53.04 percent year-on-year to reach USD 1.24 billion though the trade deficit continued to grow. The Indian exports to China around the same time last year were USD 0.81 billion, data showed. China’s exports to India also continued to grow, registering an year-on-year growth of 6.87 per cent to reach USD 5.09 billion. The Indian exports were boosted by natural pearls, precious stones and precious metals, organic chemicals, copper and articles, cotton, including yarn and woven fabric, ores, slag and ash. Since this year, India’s exports which were on the decline for a number of years started showing increase. In the first seven months, the exports registered 40.69 per cent year-on-year to reach USD 10.60 billion. However, the trade deficit expanded to USD 44.51 billion in the first seven months despite surge in Indian exports as imports from China continued to increase. Last year, the trade deficit climbed to USD 52 billion in little over USD 70 billion trade. India has been pressing China to open up its pharmaceutical and IT software sectors to expand the base of Indian exports.





Trending

Migrant Labour Workforce Exodus May Defer Economic Growth by Few Months

Migrant labour exodus may defer economic growth by a few months

Arun Singh- DnB

Suspension of labour laws detrimental to Indian labour market and discouraging for labourers- Dr Arun Singh

paint industry India raw material

Indian paint industry struggling in procurement of raw materials

real estate industry coronavirus

Revive real estate to revive economy, says CREDAI MCHI action committee

retail sector impact coronavirus RAI news

Unlock 1.0: Indian retailers seek uniform reopening of stores

Is India’s $266 Billion Economic Rescue Stimulus Enough to Revive Industries

Modi’s big bang theory: Can Rs. 2,000,000 crore stimulus rescue industries?

MSME state ranking

UP, Bihar outperform, Maharashtra tops with 15.26 lakh MSME registrations

capex cut by states

COVID-19: Capex cut by states to hit construction sector, says Icra

lending MSME coronavirus

Government exploring new financial lending institutions to support MSMEs: Nitin Gadkari

real estate industry coronavirus

Realtors’ body asks PM for urgent relief

3 lakh crore MSME laon

Small businesses, retailers not registered as MSMEs eligible for emergency credit

Anil K Sood

Stimulus package is a repackage of old schemes which doesn’t address problems arose due to COVID-19 crisis, says Anil K. Sood