How are India’s trade relations with ‘Dragon’? Know from the data which country has the upper hand

India China Trade Relations: India and China are among the two largest countries of Asia. Because of this, competition between the two remains fierce. Due to old relationships, business relationships also become very important. Meanwhile, a report by The Observatory of Economic Complexity (OCE) has come out, which shows the trade data between the two countries in recent years. According to the report, India exported goods worth $16.25 billion to China in 2023. This figure shows the important role of India’s exports in India-China trade.

India exported $15.15 billion to China in the year 2022. During this period, the total value of trade between the two countries was 117.78 billion dollars. However, in terms of trade relations, India’s export capacity to China is very low, which is a matter of concern. This is the reason why India’s exports to China decreased by 37.59% in the year 2022, which is a big difference compared to the previous year. Trade deficit also increased during this period. If we talk about this year 2024, then in the period from January to July, India exported goods worth 8.46 billion dollars to China. The total trade figure during this period was 58.81 billion dollars.

India’s top exports
India’s main exported products to China include the following:

• Natural Petroleum: $1.95 billion
• Iron Ore: $1.04 billion
• Crustaceans (shrimp and other sea creatures): $895 million

trade deficit and import situation
India’s imports from China increased by 118.77% in 2022. This resulted in a trade deficit of $101.28 billion between India and China. China’s share in India’s total imports remained significant, making it one of India’s largest trading partners. However, the difference between imports and exports is clear in the trade relations between India and China. India has made efforts to improve its exports in recent years, but the trade deficit still remains a challenge. To improve this situation, there is a need to emphasize on long-term strategies and diversification.

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