Stung by a rapidly widening trade deficit with China and Beijing’s continued rebuff of Indian attempts to reset the equation, the Congress-led government is fleshing out a draft action plan to seek combat its Asian rival. India’s trade ministry has consistently raised “serious concern” that the India-China deficit may become unsustainable. India’s trade deficit with China is forecast to balloon to US$278.5 billion by 2014, a 20-fold increase from US$14.3 billion in 2004. At US$40.8 billion, Chinese exports to India were nearly double the US$ 20.8 billion in Indian exports to China, mainly driven by cotton and iron ore.
India's Trade Balance Problems with China
India's Trade Balance Problems with China
India's Trade Balance Problems with China
Stung by a rapidly widening trade deficit with China and Beijing’s continued rebuff of Indian attempts to reset the equation, the Congress-led government is fleshing out a draft action plan to seek combat its Asian rival. India’s trade ministry has consistently raised “serious concern” that the India-China deficit may become unsustainable. India’s trade deficit with China is forecast to balloon to US$278.5 billion by 2014, a 20-fold increase from US$14.3 billion in 2004. At US$40.8 billion, Chinese exports to India were nearly double the US$ 20.8 billion in Indian exports to China, mainly driven by cotton and iron ore.
Keep reading with a 7-day free trial
Subscribe to Asia Sentinel to keep reading this post and get 7 days of free access to the full post archives.