Chinese-Dragon
RETIRED TTA
http://www.hindustantimes.com/india...une-quarter/story-S6qsxKHGB51g9OTZFRbUsK.html
Chinese imports to India recorded a 33% jump in the April-June quarter over the same period last year, government data shows, indicating trade remains unscathed by the border standoff between the two countries.
The rise in imports is on the back of a stronger rupee that has appreciated about 5.5% against the US dollar and 3.7% against the Chinese yuan since February. Electronics and engineering goods and chemicals were the biggest imports.
“The political tension that we are witnessing now is unlikely to have any impact on the trade relations between the two countries…it is business as usual for both countries at present and the situation will not change,” DK Joshi, chief economist, Crisil, told Hindustan Times.
The Asian giants are locked in a row in the remote Doklam plateau, which borders Sikkim in India’s northeast and is claimed by both Beijing and Bhutan, since June 16.
Chinese blame India for the two-month long standoff, the longest between the neighbours. It accuses India of trespass and preventing its soldiers form building a road, which New Delhi says is a threat to its security.
China is also India’s largest business partner, with trade heavily tilted in its favour.
Federation of Indian Exports Organisation director general Ajay Sahai was upbeat on business ties. Trade would not be affected by the “current level of political tension”, he said.
But the widening trade deficit -- the difference between imports and exports—continues to be a worry. Trade deficit in 2016-17 stood at $51.1 billion compared to $19.26 billion in 2009-10. It means India’s is buying way more than what it sells to China.
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Just like with the "boycott China" campaign the Indians were running a while back, India's trade deficit towards China keeps increasing.
Chinese imports to India recorded a 33% jump in the April-June quarter over the same period last year, government data shows, indicating trade remains unscathed by the border standoff between the two countries.
The rise in imports is on the back of a stronger rupee that has appreciated about 5.5% against the US dollar and 3.7% against the Chinese yuan since February. Electronics and engineering goods and chemicals were the biggest imports.
“The political tension that we are witnessing now is unlikely to have any impact on the trade relations between the two countries…it is business as usual for both countries at present and the situation will not change,” DK Joshi, chief economist, Crisil, told Hindustan Times.
The Asian giants are locked in a row in the remote Doklam plateau, which borders Sikkim in India’s northeast and is claimed by both Beijing and Bhutan, since June 16.
Chinese blame India for the two-month long standoff, the longest between the neighbours. It accuses India of trespass and preventing its soldiers form building a road, which New Delhi says is a threat to its security.
China is also India’s largest business partner, with trade heavily tilted in its favour.
Federation of Indian Exports Organisation director general Ajay Sahai was upbeat on business ties. Trade would not be affected by the “current level of political tension”, he said.
But the widening trade deficit -- the difference between imports and exports—continues to be a worry. Trade deficit in 2016-17 stood at $51.1 billion compared to $19.26 billion in 2009-10. It means India’s is buying way more than what it sells to China.
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Just like with the "boycott China" campaign the Indians were running a while back, India's trade deficit towards China keeps increasing.

