India's trade deficit with China narrows during April-January: report

2019-03-20 13:39

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MUMBAI, March 20 (Xinhua) -- India's bilateral trade deficit with China has narrowed during the 10-month period of April-January at the fastest pace in nearly a decade though China still accounts for more than a third of India's total deficit, said a report by DBS Group, Wednesday.

During the first 10 months of 2018-2019 (April-January), India's exports to China rose by 17 percent year-on-year, outpacing the 10 percent growth in its total exports.

A concurrent 14 percent year-on-year plunge in imports from China, bucked the 13 percent rise in India's overall imports, that helped to axe a fifth of the deficit, said the report.

If this run rate persists, the bilateral trade deficit could narrow to 55 billion U.S. dollars in 2018-2019, after peaking at a record high of 63 billion U.S. dollar (2.3 percent of GDP) in 2017-2018, the report said.
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