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India brings down trade deficit with China by $10 billion in 2019

Indivjal Dhasmana/New Delhi 11 Apr 19 | 10:44 PM

India has managed to bring down its trade deficit with China by $10 billion to $53 billion in 2018-19 year on year, thanks to efforts by New Delhi to get greater market access to the latter's markets and take benefit out of the current Washington-Beijing trade war. 

Sources said India's exports to China rose to $17 billion during the year from $13 billion during 2017-18, while imports declined to $70 billion from $76 billion. 

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India is the seventh largest export destination of China, while China is the fourth largest export destination of India. On the other hand, China is the top import source for India, while the latter is the 25th largest import source for China. 

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