Business

India-China trade hits a record $84.4 billion

more-in

Bilateral tensions no dampener

The India-China bilateral trade has reached $84.44 billion last year, a historic high, notwithstanding bilateral tensions over a host of issues, including the Doklam standoff.

‘40% rise in exports’

A rare novelty of the bilateral trade, otherwise dominated by the Chinese exports, was about 40% increase of Indian exports to China in 2017 totalling to $16.34 billion, data of the Chinese General Administration of Customs accessed by PTI here showed.

The bilateral trade in 2017 rose by 18.63% year-on-year to reach $84.44 billion. This is regarded as a landmark, as the volume of bilateral trade for the first time touched $80 billion, well above the $71.18 billion registered last year.

The trade touched a historic high despite bilateral tensions over a number of issues including the China-Pakistan Economic Corridor, China blocking India’s efforts to bring about a UN ban on J-e-M leader Masood Azhar, Beijing blocking India’s entry into the Nuclear Suppliers Group as well as the Doklam standoff .

The bilateral trade stagnated around $70 billion for several years, despite leaders of both nations setting a $100 billion target for 2015.

Why you should pay for quality journalism - Click to know more

Related Topics Economy Business
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Dec 13, 2019 5:15:33 AM | https://www.thehindu.com/business/india-china-trade-hits-a-record-844-billion/article22970857.ece

Next Story