India: Trade imbalance with China up 13 times in 5 years
04/04/2011 24
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New Delhi, Apr 3 (PTI) India's trade deficit with China has grown 13 times between 2004-05 and 2009-10, whereas the bilateral commerce increased by three-and-a-half times, reflecting a huge advantage which accrued to the neighbouring country.
While India's merchandise trade with China went up from USD 12.70 billion in 2004-05, the figure reached USD 42.37 billion in 2009-10.
However, a big imbalance against India accompanied the growing commercial relations between the two countries, according to the latest RBI data.
From USD 1.48 billion in 2004-05 the trade balance in favour of China grew up to USD 19.21 billion in 2009-10.
Worried by the trend, the Commerce Ministry has asked the apex industry chambers to help the government devise a comprehensive strategy for a balanced trade with China.
Source: ptinews.com
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