New Delhi: India's imports from China have declined by 7.2 per cent as it went down from USD 70.31 billion in 2018-19 to USD 65.21 billion in 2020-21, Minister of State (MoS), Commerce and Industry, Anupriya Patel said in Rajya Sabha on Friday. The Minister in a written reply further stated that India’s exports to China have increased from USD 16.75 billion in 2018-19 to USD 21.18 billion in 2020-21, a rise of 26%.
"The imports from China have exhibited a declining trend from USD 70.31 billion in 2018-19 to USD 65.21 billion in 2020-21, a decline of 7.2 per cent. On the other hand, India’s exports to China have increased from USD 16.75 billion in 2018-19 to USD 21.18 billion in 2020-21, a rise of 26%," said Patel.
She also said that the Union Government has made sustained efforts to achieve a more balanced trade with China, including bilateral engagements to address the non-tariff barriers on Indian exports to China and measures against unfair trade practices. "The government has also launched Production Linked Incentive schemes (PLIs) in 14 sectors to promote domestic manufacturing capacities and attract investment and reduce dependency on imports. Efforts have also been made to source critical supplies from alternate sources and sensitize the concerned ministries/departments to ramp up domestic capacities," added Patel.
She also said that the ''Make in India'' initiative has significant achievements and currently focuses on 27 sectors under Make in India 2.0. "The activities under this scheme are also being undertaken by several Central Government Ministries/ Departments and various State Governments. Ministries formulate action plans, programmes, schemes and policies for the sectors being dealt by them, while States also have their own Schemes for attracting investments," the Minister stated.
As for India's trade deficit with China, Patel in a separate reply stated it stood at USD 44.02 billion in 2020-21 as against USED 48.65 billion in 2019020. The Minister, in another reply, stated that representations from industry and their associations are received from time to time on surge in imports from ASEAN countries, Japan and Korea, which are examined in consultation with the concerned administrative Ministries.
She further stated that they are also taken up with the respective trading partners under the existing institutional mechanism enshrined in the respective FTAs. "FTAs have inbuilt provisions to check any misuse of the FTA concessions, which inter-alia include strict compliance of the Rules of Origin, checking mis-declaration, if any, and taking trade remedial actions. The Government also reviews the provisions of the FTAs and their implications from time to time," stated Patel.
Also read:India's import from China increased from $61.28 billion to $65.21 billion: Union Minister Anupriya Patel
