The plan is to come up with a comprehensive action plan to bridge Indias trade deficit with China and align Indias trading strategies with emerging geopolitical situations and potential risks to safeguard its supply chains, which have seen major disruption during the outbreak of the pandemic.
India Business News: India is formulating a strategy to decrease reliance on China for supply chains. The Niti Aayog will develop an action plan to reduce the trade defici
BYD Motors s $1 billion investment bid is the latest casualty of the economic cold war with China. Can India afford to continue turning down Chinese money and expertise?
Despite the heightened tensions, China s exports to India climbed to USD 118.5 billion, a increase of 21.7% from 2021. China s imports from India dwindled to USD 17.48 billion, a year-on-year decline of 37.9%.
The trade deficit crossed $100 billion for the first time. While Indian imports increased to an all-time high, exports to Beijing fell sharply compared to last year.