Despite the Indo-China border tension, the Indian import of goods from China is increasing year by year. According to The Hindu, India imported goods worth a whopping $89.66 billion from China between January and September 2022. Being the highest ever recorded during this period.
The Indian imports of Chinese goods have increased over the past years. From US $5064 million in the year 2006 to US $34524 million in 2022. Whereas on the other hand talking about the export of Indian goods to the Chinese market has come down compared to what it was back in 2021. The main reason for this is China’s economic slowdown due to COVID.
China is selling more in the Indian Market and buying less from India. As per the January-August trade data, China’s share in India’s exports has come down from 6.5% in January-August 2021 to 3.5% in January-August 2022. China’s share in India’s imports remains broadly the same at about 15%. China is India’s number-one importer. Recording the highest imports in the first nine months of any year till date in 2022.
Indian politician, economist, and statistician, Subramanian Swamy also tweeted about the increasing imports from China.
India’s imports from China galloping!!! Paid for in $ too. pic.twitter.com/cYR8l8iZDT
— Subramanian Swamy (@Swamy39) December 16, 2022
The imports are projected to surpass $100 billion by the end of 2022. Despite the efforts of the government to decrease imports and be self-reliant. This whole situation is being as positive by the official. According to the officials growing trade shows an increase in demand which is good. But this positive is highlighting a negative in itself. It showed that India as a Country is lagging a lot on its path to be self-sufficient.
