Indo-China commerce deficit dips to $5.48 billion in April-June

Indo-China trade deficit dips to $5.48 billion in April-June

 

The commerce deficit between India and China in April-June this fiscal 12 months fell to USD 5.48 billion as in comparison with USD 13.1 billion in the identical interval final 12 months, Parliament was knowledgeable on Wednesday.

In a written reply, Commerce and Industry Minister Piyush Goyal stated the bilateral commerce between the nations too dipped to USD 16.55 billion through the first three months of 2020-21 as in opposition to USD 21.42 billion in the identical interval final 12 months.

“Government has consistently taken steps to balance our trade with China by increasing our exports to China and reducing our dependence on imports from China,” he stated.

In a separate reply, the minister stated at current, about 550 tariff traces (or merchandise) are below the restricted/prohibited class for imports below the Foreign Trade Policy. Imports of those merchandise are restricted from all nations, together with China.

Replying to a separate query, he stated merchandise exports from particular financial zones (SEZs) dipped to Rs 81,481 crore throughout April-August, 2020 as in opposition to Rs 1,30,129 crore in the identical interval of 2019-20.

“However, services exports have shown a growth of 9 per cent during April to August 2020 in comparison to corresponding period of previous year,” he added.

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