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🔗 Source: drishtiias.com
📊 Size: 540 KB
👤 Author: Drishti IAS
⬇️ Downloads: 92

Summary

India's trade with China crossed $125 billion in 2021, with imports nearing $100 billion, driven by demand for Chinese machinery, despite relations hitting a new low due to a military standoff in eastern Ladakh. India's biggest exports to China were iron ore, cotton, and raw materials, while imports included electrical and mechanical machinery, Active Pharmaceutical Ingredients (APIs), and medical supplies. The trade deficit grew to $69.38 billion, prompting India to take steps to counter dependence on China, including banning Chinese apps, increasing scrutiny of Chinese investments, and promoting domestic production of bulk drugs and medical devices.

Description

India's trade with China crossed $125 billion in 2021, with imports nearing $100 billion, driven by demand for Chinese machinery, despite relations hitting a...

Technical Information

  • File Format: PDF
  • File Size: 540 KB
  • Pages: 3
  • Language: EN
  • Author: Drishti IAS
  • Total Downloads: 92
  • Last Updated: 1 month ago

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