Monday, April 22, 2024

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8 lakh crore trade between India and China this year

Vivid News 24: China’s opposition is still strong in the country. Several organizations have moved to demand a ban on Chinese products. Even just a few days ago, some organizations demanded that Chinese lights be banned during Diwali. 

But India’s anti-China is limited to the face? In general, this year saw a significant decline in the use of Chinese lights throughout the nation. Because Indians choose to use local lights to celebrate Diwali. But how much profit it is getting? Statistics say otherwise.

The data shows that the bilateral commerce between China and India reached $100 billion in the first nine months of 2022. from January to September, which is more than 8 lakh crore rupees in Indian currency.

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Exports from China to India increased by 31 percent

India-China trade has crossed $103.63 billion between January and September, according to data from the Chinese Income Tax Department. India-China commerce has surged by 14.5% when compared to the same period last year.

If just imports are taken into account, between January and September, India imported items from China valued at $89.66 billion. Which is 31% greater than the first nine months of the previous year. On the other hand, India imported goods worth $13.97 billion to China. 

Which is 36.4 percent less than before. Statistics show that exports from China to India have increased by one-third compared to last year. On the other hand, exports from India to China fell by more than one-third. In other words, India has suffered a loss. The country’s trade deficit is increasing.

Even though the Center asserts that it has worked on numerous programs to lessen reliance on China, many individuals do not see the justification for boosting trade with China.

Such figures are not new

Last year India- China trade was 125 billion dollars. Of which, $97.52 billion was exported by China to India. On the other hand, the amount in India was much less.

Also Read This Diwali bumper income opportunity, more profit with less capital!

Vishnu Soni
Vishnu Soni
I am working at NewsMarkets24 Network for the last several years, I learn a lot of things here like News editing, News writing, and how to manage my team to maintain our goals. My job does not only give me experience but also helps to shape my person for success.
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