Trade deficit with China at $46.7 bn in April-Feb : Nirmala Sitharaman

Posted by Daily Shipping Times on 10-04-2017        Tweet

NEW DELHI: India's trade deficit with China was recorded at $ 46.7 billion during the April-February period of the last fiscal, Parliament was informed recently.

Overall trade with China during the 11-month period decreased marginally by 0.87 per cent to $ 64.57 billion, Commerce and Industry Minister Nirmala Sitharaman informed the Rajya Sabha.

During this period, India's exports to China grew by 8.69 per cent to $ 8.94 billion while imports from the neighbouring nation declined by 2.26 per cent to $ 55.63 billion, resulting in a shrinkage of 4.1 per cent in India's trade deficit with China, she said in a written reply to a question.

She said both sides have signed a Five-Year Development Programme for Economic and Trade Cooperation in order to lay down a medium-term roadmap for promoting balanced and sustainable development of economic and trade relations.