Chinese exports to India decline, trade deficit narrows
Trade deficit has been a major concern in India-China bilateral relations. In 2019, India’s trade deficit with China reduced slightly by 2%, the first such decrease in deficit since 2005 and stood at $56.95 billion. India-China bilateral trade in the year 2019 reached US$ 92.89 billion. China mainly exported organic chemicals, fertilizers, antibiotics and aluminium foil to India in 2019. While India’s top exports to China included organic chemicals, iron ores, unfinished diamonds, fish and crustaceans, cotton, granite stone.
India and China are engaged in a long-drawn border standoff in eastern Ladakh. Amid rising political tensions, the Indian government has taken tough measures against China, including banning more than 200 Chinese apps and investments.