India’s imports from China crossed $101 billion in 2023-24 from about $70 billion in 2018-19, and the country’s share of India’s industrial goods imports has risen from 21% to 30% over 15 years, according to a report by the Global Trade Research Initiative (GTRI) which reckoned that Chinese imports will rise sharply in coming years.
Goods imports from China have risen 2.3 times faster than India’s total imports over 15 years, the GTRI study noted, adding that China is the top supplier in eight major industrial sectors, including machinery, chemicals, pharmaceuticals, and textiles, belying the general perception that Chinese imports are high only in the electronics sector.
“Growing trade deficit with China is a cause of concern,” the think tank said in its report analysing India’s growing industrial sector imports from China. Between 2018-2019 and 2023-24, India’s exports to China have stagnated around $16 billion annually while imports have surged, resulting in a cumulative trade deficit exceeding $387 billion over six years, it said.
