Instruction to cut imports of non-essential commodities from China
New Delhi: The Commerce Ministry has directed various government agencies to curb imports of non-essential commodities from China.
The directive is believed to have been prompted by a sharp rise in imports from China. The trade deficit with rising imports is widening.
In the nine months from April to December of the current financial year, India's imports from China grew by 3 per cent, while exports grew by only 15 per cent to 16 billion.
India has adopted a strategy of reducing trade with China as relations with China have soured following the spread of the Corona and border tensions.
In the first nine months of the current financial year, India's overall imports grew by 9 per cent year-on-year, while exports grew by 21 per cent, according to government data.
India is also trying to reduce imports as part of its self-reliance program. The share of consumer goods in India's total imports, which was 18.50 per cent in 2012, fell to 10.50 per cent in 2021, which the Commerce Department considers a success of the Self-Reliance India program.
Comments
Post a Comment