Rejecting China
With denial of investments, tighter regulations, rapid import substitution and crackdown on misdeeds of companies, India is giving it back to China like very few nations have.
india china trade
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India to have major trade opportunities as 6 more countries join BRICS
With BRICS+6, GDP share will increase to 30% of global GDP. Major impact will be on global oil production, which will increase to 40% against 18% earlier
Slashing Chinese Imports
With toys, electronics, and fertilisers, India has shown the path to self-reliance and reducing dependence on China. Here’s how it’s playing out in this arduous journey.
US emerges as India’s biggest trading partner for 2nd year straight
India's overall trade with neighbouring China declined 1.5% to $113.83 billion in FY23 vs $115.42 billion in FY22
The Netherlands emerges as India’s 3rd largest export hub
The surge in trade between India and the Netherlands is attributed to an increase in shipments of petroleum products, electronic items, chemicals and aluminium goods.
Russia 3rd largest crude oil exporter to India; trade at $16.46 bn in Apr-Aug
MoS commerce & industry Anupriya Patel tells Parliament that India’s dependence on imports of intermediate goods and raw materials is largely due to the gap between domestic supply and demand.
Shying from multilateral trade bodes ill for GDP growth
Apart from denying exports-led growth opportunity, India’s aversion to trade with big and powerful blocs would shut the door to global supply and value chains
India’s trade with China rises 29% to $115 bn in 5 yrs
In FY22, electrical machinery and equipment, sound recorders and reproducers, and TVs accounted for the highest $30.7 billion worth of trade, says the govt
Dragon Strikes
Imports from China were the highest ever in FY2022. But this does not signal the failure of India’s strategy to reduce dependence on China.
Capitalise on China + 1 strategy with mini-trade deals: Parliamentary Panel to Govt
The committee welcomed the government's plan to advance negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with Bangladesh.
