India’s reliance on Chinese goods surged in 2021
2 years, 11 months ago

India’s reliance on Chinese goods surged in 2021

The Hindu  

India imported $16 billion more of its key top 100 imports from China in the last year, an increase of almost two-thirds from the previous year, an analysis of trade figures shows, underlining deepening dependencies on many crucial imports. India’s total imports from China crossed a record $97.5 billion last year, making up a large chunk of the bilateral trade that reached $125 billion, for the first time crossing the $100 billion-mark, figures released earlier this month by China’s General Administration of Customs showed. Of the 8,455 different types of items imported from China between January and November of last year, a staggeringly diverse list covering everything from a range of chemicals and electronics to auto components and textiles, 4,591 showed an increase, according to an analysis of India’s Ministry of Commerce data. “If the growth in imports of finished items such as toys, electronics, or furniture, which we could be manufacturing in India, is not a good dependency, the fact that we are acquiring new intermediate goods, for instance, is probably a good development in the broader picture as it means we are emerging as a manufacturing hub and need new inputs to match the global demand for a finished Indian product,” Mr. Pai observed.

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History of this topic

How China, India will navigate Trump’s bid for ‘tariffs, and tariffs alone’
2 days, 9 hours ago

How China, India will navigate Trump’s bid for ‘tariffs, and tariffs alone’

Live Mint  

As Donald Trump returns as the US President on 20 January, the world will closely watch his trade policies. During his first term, Trump initiated a trade war with China in 2018, imposing tariffs on $250 billion worth of Chinese goods, including steel, aluminium, solar panels and washing machines. China's trade surplus stood at $785 billion for the first 10 …

India’s Services Exports Hit Historic High In Oct, Find Out Why
1 week, 4 days ago

India’s Services Exports Hit Historic High In Oct, Find Out Why

ABP News  

India’s services exports reached a historic high of $34.31 billion in October, a commerce ministry official revealed. The official further noted that India has made a name for itself as a global leader in digitally delivered services exports, backed by its strong IT sector and skilled workforce, reported PTI. In the last two decades, India grew from $30 billion in …

Indian economy to grow at 6.5-6.8 pc in FY25 on higher domestic consumption: Deloitte
1 week, 4 days ago

Indian economy to grow at 6.5-6.8 pc in FY25 on higher domestic consumption: Deloitte

Live Mint  

New Delhi, Dec 29 Indian economy is likely to grow at 6.5-6.8 per cent this fiscal and slightly higher between 6.7-7.3 per cent in FY2026, boosted by domestic consumption, Deloitte said on Sunday. Deloitte India Economist Rumki Majumdar said the growth in the first half of the fiscal year 2025 turned out to be slower than estimated as election uncertainties …

India’s CAD likely to exceed 2 pc of GDP in Q3 FY25 amid gold import surge: Report
1 week, 5 days ago

India’s CAD likely to exceed 2 pc of GDP in Q3 FY25 amid gold import surge: Report

Live Mint  

New Delhi, December 28 : India's Current Account Deficit is expected to rise above 2 per cent of GDP in the third quarter of FY25, driven by a surge in gold imports, according to a report by Bank of Baroda. However, resilient services exports and remittance inflows are likely to cushion the overall impact, keeping the CAD for FY25 within …

India’s oil demand growth to top China’s in 2024, trend to continue next year: S&P
2 weeks ago

India’s oil demand growth to top China’s in 2024, trend to continue next year: S&P

Live Mint  

India is poised to close 2024 with a higher oil demand growth rate than China, underscoring its emergence as a key consumption hub in Asia, according to a report by S&P Global Commodity Insights. "India is set to end the year with its oil demand growth rate surpassing China's, making it one of the fastest-growing consumption centres," the report noted, …

India’s trade braces for an action-packed 2025
2 weeks, 2 days ago

India’s trade braces for an action-packed 2025

Live Mint  

India’s external trade, navigating a phase of uncertainty owing to the European Union's new carbon tax on imports and slowing consumption in Europe, is set face further pressure. Yet, according to Pralok Gupta, associate professor, Indian Institute of Foreign Trade, which operates under the ministry of commerce and industry, “If US imposes high tariffs on China, India may face collateral …

Rupee at 85 to a Dollar: Sinking Towards 100?
2 weeks, 3 days ago

Rupee at 85 to a Dollar: Sinking Towards 100?

The Quint  

India has indeed developed a strong export franchise in not only IT services but also in setting up global capability centers that employ over 1.5 million talented Indians for highly productive use. India, in contrast to its merchandise counterpart, import much less of services, and generate good surplus despite Indians’ itch to travel abroad and seek overseas education. India exported …

What India-US trade could look like after Trump takes office
3 weeks ago

What India-US trade could look like after Trump takes office

Live Mint  

By Manoj Kumar NEW DELHI, Dec 19 - India is preparing for possible trade talks with the United States, aiming for increased investments from U.S. companies and higher exports once President-elect Donald Trump takes office. Here are key commercial issues between the two countries: TRUMP POLICY ON CHINA India seeks to leverage Trump's policy by capitalising on U.S. trade tension …

Trade deficit at a record $38bn as gold imports rise
Top News
3 weeks, 2 days ago

Trade deficit at a record $38bn as gold imports rise

Hindustan Times  

India’s merchandise trade deficit widened to a record $37.84 billion in November, driven primarily by surging gold imports and falling exports, a trend experts said threatens to add pressure on the rupee which is already strained by three months of portfolio outflows. Imports, however, surged by 27% to $69.95 billion compared to $55.06 billion in November 2023, mainly due to …

India’s imports rises to 27%, touches to record high of almost $70 billion
3 weeks, 3 days ago

India’s imports rises to 27%, touches to record high of almost $70 billion

The Hindu  

India’s merchandise exports fell 4.83% to $32.11 billion in November while the import bill jumped 27% to a record high of almost $70 billion, as per data released by the Commerce Ministry. This is the third time in four months that India’s import bill has hit a record high, but November’s tally surpasses the last two occasions by a wide …

India faces high exposure to US trade policy shift
1 month ago

India faces high exposure to US trade policy shift

Deccan Chronicle  

Chennai: India will be one of the key economies that are most exposed to a potential trade policy shift in the US under the new regime. The 2025 trade outlook is clouded by potential US policy shifts, including broader tariffs that could disrupt global value chains and impact key trading partners, said UNCTAD in its global trade update. This 3.3 …

China+1 plan: India’s limited gain
1 month ago

China+1 plan: India’s limited gain

New Indian Express  

NEW DELHI: Government think tank Niti Aayog has admitted that ‘India has seen limited success so far in capturing the China Plus One strategy. It attributes factors like cheaper labour, simplified tax laws, lower tariffs and pro-activeness in signing free trade agreements have played a key role in helping these countries expand their share of exports. The US has raised …

India achieves limited success in capturing ’China Plus One strategy’ so far: Niti Aayog report
1 month ago

India achieves limited success in capturing ’China Plus One strategy’ so far: Niti Aayog report

Live Mint  

New Delhi, Dec 4 India has seen limited success so far in capturing the 'China Plus One strategy', while Vietnam, Thailand, Cambodia, and Malaysia have become bigger beneficiaries, according to a report of government think tank Niti Aayog. "However, India has seen limited success so far in capturing the China Plus One strategy so far," said the report - 'Trade …

China’s flood of cheap goods is angering its allies, too
1 month ago

China’s flood of cheap goods is angering its allies, too

Live Mint  

A deluge of cheap Chinese goods washing over the developing world is jacking up tensions between China and the Global South, complicating Beijing’s plans to build alliances as it confronts escalating trade tensions with the U.S. With President-elect Donald Trump saying he plans to significantly increase tariffs on China, Beijing is hoping to unload more of its excess factory production …

India’s exports rise, boosting global presence
1 month ago

India’s exports rise, boosting global presence

Deccan Chronicle  

New Delhi: India is eyeing to be a global economic powerhouse with its remarkable achievements in the export landscape. “India’s export performance in several key product categories has shown notable success, with the country maintaining or improving its rank among the top 10 global suppliers, all with export values exceeding $1 billion in 2023,” the ministry said. “The petroleum sector …

India-China trade: An alarming $18 billion discrepancy
1 month, 1 week ago

India-China trade: An alarming $18 billion discrepancy

Live Mint  

India-China trade data for 2023 reveals a widening discrepancy, with India's reported imports from China falling significantly short of China's export figures, raising concerns over potential anomalies such as under-invoicing, misclassification, and inconsistent reporting practices. In 2023, India's merchandise imports from China stood at $99.59 billion, which was 18.2% lower than the $117.68 billion worth of exports reported by China, …

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct
1 month, 3 weeks ago

Pharma, electronics and engineering goods among India’s top exports during Apr-Oct

Live Mint  

New Delhi: India's merchandise exports continued their upward trajectory during April-October, with 21 of the top 30 sectors registering growth in value terms, buoyed by rising global demand for Indian goods. Growth in key sectors like pharmaceuticals, electronics, and engineering goods contributed to the overall gains, while a sharp decline was reported in traditionally strong sectors—petroleum and gems and jewellery—amid …

Trump's tariffs will worry India, but wait, there’s more
1 month, 3 weeks ago

Trump's tariffs will worry India, but wait, there’s more

Live Mint  

The return of Donald Trump to the US presidency has raised fears worldwide of a trade war. This resulted in a trade war with several countries, including China and India, which imposed retaliatory tariffs on US goods. Besides an increase in average tariffs on Indian imports, the number of tariff lines subject to tariffs of 25% or more rose from …

India’s trade deficit with China soars during April-October despite import curbs
Trending News
1 month, 3 weeks ago

India’s trade deficit with China soars during April-October despite import curbs

Live Mint  

New Delhi: India’s merchandise trade deficit with China has risen 13% during the first seven months of the current fiscal year, despite government measures aimed at cutting reliance on the Asian manufacturing major and restrictions on import of certain products from the country. India's goods trade deficit with China widened to $57.83 billion during April-October from $51.12 billion a year …

India imports more from China, exports less during Apr-Oct 2024: Govt data
Trending News
1 month, 3 weeks ago

India imports more from China, exports less during Apr-Oct 2024: Govt data

Firstpost  

During the period, the top 10 import sources of India were China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the data showed China was India’s top import source with $65.89 billion, a 9.8 per cent year-on-year increase, worth of inbound shipments during the April-October period of this fiscal, according to the commerce ministry data. …

Merchandise exports set for modest rebound, to hit $107.5 billion in Q3: India Exim Bank
1 month, 4 weeks ago

Merchandise exports set for modest rebound, to hit $107.5 billion in Q3: India Exim Bank

Live Mint  

India's merchandise exports are likely to rise 1.85% year-on-year to $107.5 billion in the third quarter of FY25, according to India Exim Bank. Exim Bank has projected non-oil exports at $91.7 billion, marking a year-on-year growth of 7.39%. Read this | RITES sets sights on Africa for export of refurbished and underutilized railway diesel locos This anticipated growth signals a …

India poised to gain from Trump’s potential tariff hike on China, says report
2 months ago

India poised to gain from Trump’s potential tariff hike on China, says report

Live Mint  

Following Donald Trump's victory in the U.S. presidential elections, a report from CareEdge suggests that India could benefit from potential shifts in global trade dynamics if Trump moves forward with plans to impose high tariffs on Chinese imports. Such policies aim to reduce the U.S. dependence on Chinese imports, a move that could disrupt established trade channels and prompt companies …

Foreign trade poised for steady growth amid headwinds
Top News
2 months ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

Trump's potential return sparks concerns over Indo-US trade ties, tariffs
Trending News
2 months ago

Trump's potential return sparks concerns over Indo-US trade ties, tariffs

New Indian Express  

Donald Trump’s return as the 47th president of the US will likely put Indo-US trade ties under sharp focus. Trump has promised a fresh wave of tariffs under his ‘America first’ stance, which may adversely affect countries like India and its key sectors such IT, pharmaceuticals, textiles, chemicals and automotive parts. He even proposed import duty increases of 10-20 percent …

Foreign trade poised for steady growth amid headwinds
2 months ago

Foreign trade poised for steady growth amid headwinds

China Daily  

China's foreign trade in goods 2024. CHINA DAILY China's foreign trade will sustain steady growth for the remainder of 2024 and exporters should prepare for potential challenges, including higher tariffs, by enhancing product competitiveness and expanding sales in emerging markets, government officials and market observers said on Thursday. China's foreign trade increased 5.2 percent year-on-year to 36.02 trillion yuan in …

America First, round two: What Trump's trade agenda means for India and the world
2 months ago

America First, round two: What Trump's trade agenda means for India and the world

India Today  

With Donald Trump’s return to the White House, global trade dynamics face a seismic shift. India’s strategic balance As Trump brings his protectionist trade policies back, India faces pressure to lower trade barriers or risk tariffs on key exports. Why India matters to the US India holds unique significance for the US — first, as a strategic partner in countering …

US elections 2024 outcome could reshape India trade ties
2 months ago

US elections 2024 outcome could reshape India trade ties

Live Mint  

NEW DELHI : With Donald Trump, the Republican nominee and former US president, leading the US presidential race, India's trade ties with the country—one of the few with which India has a merchandise trade surplus—are likely set for a paradigm shift. While Donald Trump’s America First agenda may lead to higher tariffs on Indian goods, especially in key sectors like …

India-China Border Deal: A Long-Overdue Resolution
2 months, 2 weeks ago

India-China Border Deal: A Long-Overdue Resolution

News 18  

Prime Minister Narendra Modi and Chinese Premier Xi Jinping will hold first bilateral talks in five years on Wednesday on the sidelines of the 16th BRICS Summit in Russia. Both countries reached an agreement to resume border patrolling operations along LAC following the disengagement process along the disputed areas.

China's Foreign Trade Soars to Record High in First Three Quarters
2 months, 3 weeks ago

China's Foreign Trade Soars to Record High in First Three Quarters

China Daily  

China's foreign trade grew significantly in the first three quarters of 2024, with both exports and imports increasing. The country's exports surged 6.2 percent year-on-year to 18.62 trillion yuan, while imports rose 4.1 percent year-on-year to 13.71 trillion yuan. The country's foreign trade hit a record high in the first three quarters with each quarter exceeding 10 trillion yuan.

China's Foreign Trade Soars to Record High in First Three Quarters
2 months, 3 weeks ago

China's Foreign Trade Soars to Record High in First Three Quarters

China Daily  

China's foreign trade grew significantly in the first three quarters of 2024, with both exports and imports increasing. The country's exports reached 18.62 trillion yuan, up 6.2 percent year-on-year, while imports rose to 13.71 trillion yuan, up 4.1 percent. This growth is attributed to China's optimization of its exported products, with exports of high-tech equipment increasing by 40 percent year-on-year …

China's Foreign Trade Soars to Record High in First Three Quarters
2 months, 3 weeks ago

China's Foreign Trade Soars to Record High in First Three Quarters

China Daily  

China's foreign trade grew significantly in the first three quarters of 2024, with both exports and imports increasing. The country's exports surged 6.2 percent year-on-year to 18.62 trillion yuan, while imports rose 4.1 percent year-on-year to 13.71 trillion yuan. The country's foreign trade hit a record high in the first three quarters with each quarter exceeding 10 trillion yuan.

How India can fix the Chinese imports problem
3 months, 1 week ago

How India can fix the Chinese imports problem

Live Mint  

India last month extended countervailing duties of 12-30% on certain steel imports from China and Vietnam, following requests from local producers to safeguard against cheaper imports. Read this | Mint Primer | China’s stimulus: What it spells for India & the world A growing economy like India’s naturally requires more imports to meet rising consumption and manufacturing demand, with cost …

India’s coal imports rise to 90.5 MT amid surge in power demand
3 months, 2 weeks ago

India’s coal imports rise to 90.5 MT amid surge in power demand

Live Mint  

New Delhi: India's coal imports during the April-July period of the current fiscal increased 0.9% to reach 90.51 million tonnes compared with 89.68mt in same period last fiscal, the coal ministry said on Wednesday. "This decline underscores India’s steadfast commitment to achieving self-sufficiency in coal production and reducing reliance on imports," it said, adding that coal imports by the non-regulated …

Is the spike in India’s trade deficit a worry?
3 months, 2 weeks ago

Is the spike in India’s trade deficit a worry?

The Hindu  

The story so far: After a positive start to goods exports in the first quarter of 2024-25, there has been a blip in momentum. On the exports front, 18 of India’s top 30 segments recorded growth in July and 19 in August, but the big-ticket sectors like petroleum, and gems and jewellery, have tanked significantly. While gems and jewellery exports …

Country's foreign trade shows strong resilience
3 months, 4 weeks ago

Country's foreign trade shows strong resilience

China Daily  

Container vessels unload cargo at a terminal in Qingdao, Shandong province, in August. China's foreign trade has continued to demonstrate strong resilience, and the nation's enhanced export channels with emerging economies, coupled with ongoing support from its opening-up policies, will drive its economic growth throughout the year despite external challenges, government officials and experts said. According to the General Administration …

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI
4 months, 1 week ago

India has trade surplus with 151 nations; deficit with 75 during Jan-June 2024: GTRI

The Hindu  

India has recorded trade surplus with as many as 151 countries such as the U.S. and Netherlands, while the country has a trade deficit with 75 nations including China and Russia during the first half of this year, according to think tank GTRI. "Between January and June 2024, India had a trade surplus with 151 countries, representing 55.8 per cent …

India's Exports to Bangladesh, Russia Decline Sharply
4 months, 2 weeks ago

India's Exports to Bangladesh, Russia Decline Sharply

Deccan Chronicle  

Chennai: Conflict-ridden markets like Bangladesh and Russia reported a slumping engineering goods offtake in July, despite the industry clocking a positive growth in shipments. Engineering exports to Bangladesh fell 11.8 per cent year-on-year to $153.78 million in July 2024, against $174.35 million in July 2023. The value of engineering exports to Russia declined 26.8 per cent in July this year …

India’s Trade Deficit Widens to $23.5B in July
4 months, 3 weeks ago

India’s Trade Deficit Widens to $23.5B in July

Deccan Chronicle  

Chennai: India's trade deficit widened to $23.50 billion in July as exports dipped 1.4 per cent and imports grew 7.5 per cent. However, combined exports of merchandise and services registered a growth of 2.8 per cent and the ministry expects this year’s combined exports to be higher than last year’s. Merchandise exports in July this year dipped by 1.4 per …

Is India ready to welcome Chinese capital again?
5 months ago

Is India ready to welcome Chinese capital again?

New Indian Express  

The Economic Survey for 2023-24 sprang a surprise by making a strong pitch for Chinese investments in India, indicating a turn from the government’s anti-China stance of the past four years during which relations hit a new low. Though the Survey’s views are attributed to the chief economic advisor, the finance minister subsequently lent support, signalling a clear policy shift. …

India 'not rethinking' on issue of allowing Chinese investment as suggested by Economic survey: Piyush Goyal
5 months, 1 week ago

India 'not rethinking' on issue of allowing Chinese investment as suggested by Economic survey: Piyush Goyal

India TV News  

New Delhii: Commerce and Industry Minister Piyush Goyal said on Tuesday that there is no rethinking in the government to support foreign direct investments from China, as was pitched by the Economic Survey recently. India faces two choices to benefit from the 'China plus one strategy' -- it can integrate into China's supply chain or promote FDI from China. China …

India Should Think About Receiving Chinese Investments
5 months, 2 weeks ago

India Should Think About Receiving Chinese Investments

Deccan Chronicle  

Chennai: In order to boost Indian manufacturing and plug India into the global supply chain, it is inevitable that India plugs itself into China's supply chain. It is increasingly seen that emerging economies are introducing import restrictions on Chinese goods while accelerating a push for free trade elsewhere to protect their domestic manufacturers due to the threat of China’s overcapacity. …

Economic Survey 2023-24: India’s success in exports and reducing Chinese imports
5 months, 2 weeks ago

Economic Survey 2023-24: India’s success in exports and reducing Chinese imports

The Hindu  

The government's steps such as mandatory quality norms and increase in customs duties have significantly helped the domestic toy players to boost exports and reduce dependence on Chinese imports, Economic Survey said on July 22. "India's import bill for toys from China dropped from USD 214 million in FY'13 to USD 41.6 million in FY'24, leading to a decline in …

Niti Aayog: India’s Electronics Output Can Reach $500 Billion by FY30
5 months, 3 weeks ago

Niti Aayog: India’s Electronics Output Can Reach $500 Billion by FY30

Deccan Chronicle  

Chennai: India can increase its electronics production five-fold to touch $500 billion by FY30, with $200 -$225 billion worth exports of both finished goods and components by becoming an integral part of the global value chain through focused policy interventions, finds Niti Aayog. However, the electronics sector has a very high participation in the global value chain with 75 per …

India's exports in Q1 show resilience despite global slowdown: CRISIL
5 months, 3 weeks ago

India's exports in Q1 show resilience despite global slowdown: CRISIL

New Indian Express  

India's exports have shown resilience amidst global challenges, with merchandise exports rising by 5.8% to $109.96 billion in the first quarter of fiscal 2025, according to CRISIL. "On a cumulative basis, merchandise exports rose 5.8% to $109.96 billion for the first quarter of fiscal 2025, from $103.9 billion in the year-ago period. This growth in exports in the first quarter …

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data
5 months, 3 weeks ago

India's exports soar 2.56 per cent to USD 35.2 billion in June: Govt data

India TV News  

The government of India on Monday released data on the exports by the nation in the month of June. According to the data, India's merchandise export in June increased by 2.56 per cent to $35.32 billion compared to $34.32 billion in June last year. In May, the country's merchandise exports increased by 9.1 per cent and reached USD 38.13 billion, …

India's electronics sector loses ₹1.25 lakh crore due to India-China tensions
6 months, 3 weeks ago

India's electronics sector loses ₹1.25 lakh crore due to India-China tensions

Hindustan Times  

Escalating tensions with China are said to have cost Indian electronics manufacturers $15 billion in production losses as well as 100,000 jobs in the past four years, the Economic Times reported. In submissions to various ministries, the electronics manufacturing industry said India has also lost out on a $10 billion export opportunity besides $2 billion in value addition loss, according …

Exports Rise 9 PC in May
6 months, 3 weeks ago

Exports Rise 9 PC in May

Deccan Chronicle  

Chennai: With the global demand showing positive signals, merchandise exports rose by over 9 per cent in May. "While exports growth rose to a robust 9.1 per cent and outpaced imports growth of 7.7 per cent, the merchandise trade deficit widened to a seven-month high, driven by a jump in the net oil imports,” said Aditi Nayar, Chief Economist, ICRA. …

Cheaper Chinese steel pulls down Indian exports
7 months, 2 weeks ago

Cheaper Chinese steel pulls down Indian exports

Deccan Chronicle  

Chennai: Apart from the Red Sea crisis, increasing shipments of cheaper Chinese steel hit exports from India in April. After experiencing steady growth in the last four months, India’s engineering exports declined in April by 3.2 per cent primarily due to lower shipments of metals, especially iron and steel, and copper. A substantial 36.41 per cent decline in exports of …

200% import duty on Pakistani products killed neighbour's economy
7 months, 2 weeks ago

200% import duty on Pakistani products killed neighbour's economy

Op India  

On 17th May, Pakistan’s Foreign Minister Ishaq Dar acknowledged that the trade ties with India went south after the Pulwama terrorist attack on 14th February 2019 in which India lost 40 brave soldiers. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect.” India has withdrawn MFN status to …

India's Toy Import Curbs Yield Success, Exports Stagnate
7 months, 4 weeks ago

India's Toy Import Curbs Yield Success, Exports Stagnate

Deccan Chronicle  

Chennai: The government measures to curb the inflow of substandard products have successfully reduced toy imports. India's toy imports decreased drastically from $304.1 million in FY2019 to US$ 64.9 million in FY2024. Further, the share of imports from China dropped from 87 per cent of India's total toy imports in FY2019 to 64 per cent in FY2024. While the curbs …

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