New Delhi: India recorded a trade deficit worth USD 99.2 billion with China in the financial year 2024-25 that ended in March.
March became an expensive month for India as imports from China alone jumped over 25 percent, amounting to USD 9.7 billion, led by electronics, electric batteries and solar cells. The total imports from China rose to USD 113.5 billion in 12 months through March, according to the data released by the Union Commerce Ministry on Wednesday.
Meanwhile, there was a sharp fall in Indian exports to China from 14.5 percent amounting to USD 1.5 billion in March from a year earlier, while total exports dropped to USD 14.3 billion in the 12-month period.
China emerged as India’s second biggest trading partner in 2024-25, with bilateral trade of USD 127.7 billion, after the United States, the data showed.
The government plans to set up a monitoring unit to track the surge in cheaper imports from countries like China.
