India’s April-September trade deficit with China up nearly 20 per cent at $21.6 bn
05 Dec 2012
India's exports to China declined 19.65 per cent in the first half of 2012-13 (April-September) compared to the corresponding period in 2011-12, taking the trade deficit for the six-month period to $21.61 billion.
The decline in exports has been due mainly to lower shipments of iron ore and minerals, plastics and linoleum products, dyes/intermediates and chemicals, petroleum (crude and products), electronic goods, ferro alloys, drugs, pharmaceuticals and fine chemicals, transport equipment etc.
India's imports from China, although down 2.45 per cent year-on-year in April-September 2012-13, reached $28.03 billion.
The decline in bilateral trade can be attributed to overall negative global sentiment because of economic recession and low demand from the US and Europe.
Ban of exports of iron ore from Karnataka and Goa also contributed to decline in India's exports to China, minister of state for commerce and industry D Purandeswari informed the Rajya Sabha today.
However, she said, trade between the two countries is expected to grow manifold and both the sides are engaged to realise the target of bilateral trade of $100 billion by 2015.
.webp)
