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India-China trade flourished in 2021 amid tensions in Ladakh record $125 billion business

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India-China trade flourished in 2021 amid tensions in Ladakh, record $125 billion business

Highlights

  • In the year 2021, the trade of both the countries reached a record level of 125 billion dollars.
  • Border tension has no effect on bilateral trade
  • India’s trade deficit also increased to $69 billion

Beijing. The border tension between India and China in the eastern Ladakh region did not see any impact on the bilateral trade and in the year 2021, the trade of both the countries reached a record level of 125 billion dollars. During this period, India’s trade deficit also increased to $ 69 billion. According to trade data published on Friday, China’s total trade with India stood at $125.66 billion in the year 2021, which is 43.3 percent higher than the year 2020.

The Global Times has published this report based on data from China’s Customs Department. According to this, during January 2021 to December 2021, China’s exports to India increased by 46.2 percent to $ 97.52 billion. In comparison, China’s imports from India increased by 34.2 per cent to $28.14 billion. Thus once again the trade balance was tilted in favor of China and India’s trade deficit increased to $ 69.38 billion.

India has been raising its objections to the increasing trade deficit with China in the past as well. India’s demand is that China opens its market doors to Indian information technology and pharma companies. Experts say that a large part of the increase in India’s imports from China in the year 2021 was from raw materials used in the manufacture of medical devices and medicines. India was in need of medical equipment on a large scale during the COVID-19 pandemic.

This increase in bilateral trade between India and China is also significant in view of the fact that both the countries were embroiled in a very tense situation along the border in the Eastern Ladakh region during the same period. Even now the armies of both the countries are in a very cautious position. Several rounds of talks have been held between top military officials of India and China to reduce this tension on the Line of Actual Control (LAC). But till now no solution has been found.

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Salman Sahr

Salman is a journalist at UsamaSpeaks.com and he deals with Latest News, World News, and Business News. Salman is a very professional and authentic news journalist.

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