NEW DELHI: Despite Indian exports seeing good growth in recent months, India’s trade deficit with China has topped the $100 billion mark for the first time, with still a month left for the fiscal year to close.
Latest data released by the commerce department estimated the trade deficit during April-Feb at $102 billion, as against $91.1 billion in the corresponding period last year. For the full year, India’s trade deficit with China was just a shade under $100 billion. After the US, India has the highest trade deficit with China, with Vietnam ranked third.
While India’s exports to its neighbour have increased nearly 38% to $17.5 billion during April-Feb, imports rose over 15% on a bigger base to reach almost $120 billion.
