India's Economic Times reports: Export to China achieved a significant increase in a single month this fiscal year
New Delhi: Exports of goods from India to China have continued to grow, increasing by a quarter from last year's level in the first seven months (April to October) of this fiscal year, reaching 10 billion US dollars.
This is the first time that India's exports to China have exceeded 10 billion US dollars in the first seven months of the fiscal year. The previous highest record was 9.83 billion US dollars from April to October 2022.
During this period, India's main exports to China included petroleum products, electronic components, ferroalloys, chemicals, aluminum products, cotton, and copper products. The export value of petroleum products increased from 2.03 billion US dollars to 2.43 billion US dollars compared to the same period last year.
At the same time, India's imports from China increased by 1.1% to 64 billion US dollars, which slightly narrowed India's trade deficit with China from 54 billion US dollars to 53 billion US dollars compared to the same period last year.
Despite the weak global economic outlook, the growth momentum of India's exports to China remains strong.
An official said, "This is one of a series of positive signals for recent India-China exports, indicating that despite the uncertainty in the global trade environment, the trade relationship between the two countries is still strengthening."
Original: www.toutiao.com/article/1849499689344265/
Statement: This article represents the views of the author.