India's trade gap with China widens, Indian Parliament told
Time：2016-05-16
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Increasing imports from China can be attributed to the fact that these are mostly manufactured items required to meet India`s demand for fast expanding sectors such as telecom and power, which China is able to export at competitive prices, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.
India`s imports from China were $51 billion in 2013-14 and $60.4 billion in 2014-15, reports the Calcutta Telegraph.
Exports to China have barely moved to $8.3 billion in 2015-16 (up to February) from $6.8 billion in 2005-06. However, imports (up to February) ballooned to $56.9 billion. In 2014-15, the gap was $48.48 billion.
Major imports from China included computer hardware, drug intermediates, consumer electronics, electrical machinery as well as iron and steel.
India`s pharmaceutical exports to China grew 17.3 per cent in 2014-15.