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China-India trade at record high despite border tension – New Delhi News

The complete quantity of trade between China and India in 2021 stood at $125.66 billion, up 43.3 per cent from 2020, stated the Global Times report citing statistics launched by the General Administration of Customs (GAC).

Of which, China’s exports to India had been $97.52 billion, up 46.2 per cent, whereas China imported $28.14 billion price of products from India, up 34.2 per cent.

Analysts attributed the surge in trade to the complementary features of the commercial chains of the 2 international locations.

For instance, about 50-60 per cent of chemical compounds and different supplies utilized by the Indian pharmaceutical business, which is a pillar business, are imported from China.

India was China’s fifteenth largest trade companion in 2021, the Global Times quoted the GAC as saying.

“Analysts said that the boycott of Made-in-China products will not balance the trade deficit and that boosting India’s exports to China is the right choice. Meanwhile, India should not exclude China when it seeks free trade agreements as China is already involved in international free trade mechanisms,” the Global Times stated.

Total trade between China and international locations which have signed the Regional Comprehensive Economic Partnership (RCEP) – 10 members of the Association of Southeast Asian Nations (ASEAN), Japan, South Korea, Australia and New Zealand – expanded considerably in 2021.

Disclaimer: This story is auto-aggregated by a pc program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

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