In the year ended March 31, India’s trade deficit was 13.64 billion, respectively, with the UAE and Hong Kong’s trade deficits respectively.
Imports from China rose 11.5% to $113.4 billion.
Throw in the watch
The surge has been fueled by increasing demand for electronics, batteries, solar cells and key industrial input sectors, Beijing’s dominant New Delhi supply chain has strengthened fear of dumping in the country. China’s exports fell 14.5% to $14.2 billion, below the FY14 level.
The surge in imports led to a trade deficit, with China growing by about 17% from $85.07 billion in fiscal 24.
Meanwhile, India’s tax rates on the Trump administration’s tax collection on Chinese imports closely monitor emerging developments. New Delhi believes that this could eventually lead to India dumping Chinese goods directly or through third countries. The government has established an import monitoring mechanism to initiate rapid and timely action to prevent dumping. “In addition to China, imports from other countries such as Indonesia and Vietnam have been monitored.” India’s main imports from China include electronic components and instruments, computer hardware, telecommunications instruments, organic chemicals, electrical machinery, plastic raw materials and pharmaceutical ingredients. China’s highest exports include iron ore, marine products, petroleum products, organic chemicals and spices.
According to representatives of the export industry, many raw materials imported from China have occurred less than about 25%.
