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Indo-China trade deficit more than halves in April-June

10:45 PM Sep 16, 2020 | PTI

The trade deficit between India and China in April-June this fiscal year fell to USD 5.48 billion as compared to USD 13.1 billion in the same period last year, Parliament was informed on Wednesday.

In a written reply, Commerce and Industry Minister Piyush Goyal said the bilateral trade between the countries too dipped to USD 16.55 billion during the first three months of 2020-21 as against USD 21.42 billion in the same period last year.

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"Government has consistently taken steps to balance our trade with China by increasing our exports to China and reducing our dependence on imports from China," he said.

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In a separate reply, the minister said at present, about 550 tariff lines (or products) are under the restricted/prohibited category for imports under the Foreign Trade Policy. Imports of these products are restricted from all countries, including China.

Replying to a separate question, he said merchandise exports from special economic zones (SEZs) dipped to Rs 81,481 crore during April-August, 2020 as against Rs 1,30,129 crore in the same period of 2019-20.

"However, services exports have shown a growth of 9 per cent during April to August 2020 in comparison to corresponding period of previous year," he added.

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