India-China trade grew to record $125 billion in 2021

 

If reports are to be believed, bilateral trade between India and China was valued at $125.66 billion in 2021, up 43.3% from $87.6 billion in 2020 despite border tensions, boycotts and bans.
 
According to statistics provided by the General Administration of Customs (GAC) and quoted by the tabloid Global Times on Friday (i.e. 14 Jan 2022), China's exports to India in 2021 were $97.52 billion, up 46.2%, while China received $28.14 billion worth of commodities from India, up 34.2%.
 
India was China’s 15th largest trade partner in 2021, according to GAC. The trade disparity between the two countries remained $69 billion in China's favour.  The historic growth in bilateral trade, which surpassed USD 100 billion, went unnoticed as ties remained tense due to the protracted military standoff in eastern Ladakh.
 
The border standoff between India's and China's armies began on May 5 last year after a violent confrontation in the Pangong lake areas, and both sides have gradually increased their deployment by pouring in tens of thousands of soldiers and heavy weaponry.
 
The two parties concluded the disengagement process in the Gogra area in August and the north and south banks of the Pangong lake in February as a result of a series of military and diplomatic talks.
On 12 January 2022, the two sides met for the 14th round of Corps Commander-level discussions to end the standoff in the remaining territories, and they promised to meet again shortly. Each side currently has around 50,000 to 60,000 troops along the Line of Actual Control (LAC) in the mountainous sector.
 
Read Source :: The Economic Times