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Drastic fall in trade deficit with China
Economy

Drastic fall in trade deficit with China

Pennews

India has managed to bring down its trade deficit with China by 10 billion dollars to 53 billion dollars in 2018-19, due to efforts by New Delhi to get greater access to the latter's markets and take the benefit out of the current the US-China tariff war.

Sources said India's exports to China rose to 17 billion dollars during the year from 13 billion dollars during the previous year. while imports declined to 70 billion dollars from 76 billion dollars.

India is the seventh largest export destination of China, while China is the fourth largest export destination of India.  China is also the top import source for India, while the latter is the 25th largest import source for China.