India's imports from China across at least 25 major commodity groups rise on year
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
India's imports from China across at least 25 major commodity groups such as consumer electronics, auto components, and iron and steel products rose in fiscal 2023, the government told parliament on Wednesday.
The statement, which listed Chinese imports in a total of 31 commodity groups, comes amid New Delhi's concerted efforts to reduce its trade deficit with China since border tensions flared in 2020.
Imports of electronics instruments from China grew 14% year-on-year in fiscal 2023, while imports of organic chemicals imports and iron and steel products rose 9% and 12.3%, respectively, as per the statement.
Imports of all listed commodity groups were higher than shipments in fiscal 2021.
Last week, India mandated a licence for the import of laptops, tablets and personal computers to boost domestic manufacturing and curb supplies from China.
The mandate, which comes into effect from November 2023, is part of a string of measures over the past few years targeting Chinese products and investment.
India's trade gap with China widened 13.5% in fiscal 2023 year-on-year, as India's strong domestic demand continued to support Chinese imports while COVID lockdowns in China crimped imports from India.
