The government has admitted in the Lok Sabha that trade deficit with China has been growing. Between April 2015 and February this year, the deficit stood at 48.68 billion US dollars compared to 48.45 billion US dollars in 2014-15. Stating this Commerce Minister Nirmala Sitharaman said China sends manufactured items to meet the demands of fast expanding sectors like telecom and power. Major imports from China include telecom instruments, computer hardware and peripherals, fertilizers, electronic instruments, organic chemicals, drugs and iron and steel. China exports all these items to India at competitive prices. In return, India exports primary and intermediate products to China. The Minister assured the House that India will never allow any sub-standard products from China.
News On AIR | April 26, 2016 8:00 AM
Trade deficit with China growing, Govt admits in LS