china india imports: China’s share in India’s complete imports falls to fifteen.4 pc in 2021-22
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Citing some examples, they mentioned imports like Lively Pharmaceutical Substances (APIs) and drug formulations present Indian pharma business uncooked materials for producing completed items that are additionally exported.
Enhance in imports of data and communication know-how merchandise and medical and scientific devices may be attributed to the surge in demand of those merchandise throughout COVID-19 occasions.
“Furthermore, the rising costs of commodities globally have additionally performed a big function in including to import worth,” one of many sources mentioned.
Exports to China elevated marginally to USD 21.25 billion final fiscal from USD 21.18 billion in 2020-21, whereas imports rose to USD 94.16 billion from about USD 65.21 billion in 2020-21.
India’s exports to China at USD 21.2 billion in 2021-22 had been its third highest, after the US and UAE. Exports to the neighbouring nation stood at USD 11.9 billion in 2014-15.
Additional, sources said that imports of cellphones from China dropped by 55 per cent to USD 626 million in 2021-22, from USD 1.4 billion in 2020-21.
“Technical rules have been framed for a number of merchandise for upkeep of requirements/high quality of imported merchandise. It will verify import of sub-standard merchandise from any nation, together with China,” a supply mentioned. PTI RR CS RR ABM ABM
