Russian media: India's trade deficit with China in the 2024 fiscal year is close to $10 billion, and electronic products have become the main import source.

Russian media: Last year, India's trade deficit with China reached nearly 100 billion US dollars!

The list shows mainly electronics, batteries, and solar products.

On April 17, Russian media published an article.

According to The Economic Times of India, India's trade deficit with China in the 2024 fiscal year ending in March was recorded at 99.2 billion US dollars.

The increase in the deficit is due to the growth in imports of electronic goods and long-term consumer goods, the publication noted.

In the 2024 fiscal year, India imported 113.5 billion US dollars from China. In the same period, exports from India to China were 14.3 billion US dollars.

Adja Srivastava, founder of the Trade Policy Center in Delhi, said: "This is a shocking signal for India because the increasing imports reflect a deeper structural dependence of India's economy."

He warned that imports from China this year may increase by another 20% as many Chinese companies are looking for ways to reorient the US market through other countries.

The import list is led by electronics, batteries, and solar elements.

The newspaper indicated that in March, imports from China increased by 25% compared to the previous year, totaling 9.7 billion US dollars (800 billion Indian rupees).

Compared to the previous year, exports of Indian goods to China in March decreased by 14.5%, totaling 1.5 billion US dollars.

Original Source: https://www.toutiao.com/article/1829607048162315/

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