According to the government data, it has been stated that India’s trade deficit with China has fallen to $48.66 billion in 2019-20 due to the decline in imports from China. In the last financial year, the exports from India to China were at $16.6 billion whereas the imports were $65.2 6 billion.
The trade deficit between the countries was $ 53.56 billion in 2018-19 and $ 63 billion in 2017-18.
The main imports from China include clocks and watches, musical instruments, toys, sports goods, furniture, mattresses, plastics, electrical machinery, electronic equipment, chemicals, iron and steel items, fertilizers, mineral fuel, and metals.
New Delhi has time and again raised concerns over the widening trade deficit with China.
The government is taking steps such as framing technical regulations and quality norms for several products to cut dependence on China for imports.
As many as 371 products have been identified for technical regulations. Out of these, technical regulations have been formulated for 150 products worth about $ 47 billion of imports.
Over 50 quality control orders (QCOs) and other technical regulations have been notified in the past one year including on electronic goods, toys, air conditioners, bicycle parts, chemicals, safety glass, pressure cookers, items of steel, electrical items such as cables.
