Hindustan Times ST (Jaipur)
INDIA-CHINA TRADE JUMPED OVER 70% IN 2021: CHINESE DATA
Spurred to an extent by India importing medical goods from China to combat the deadly second wave of the Covid-19 pandemic, trade between the two neighbours soared by more than 70% year-on-year to over $48 billion in the first five months of 2021, China’s customs data showed on Monday.
Calling it a “spectacular growth”, Chinese state media interpreted the increase in bilateral trade as a sign of resilience in trade ties between the two nations despite conflict at the border and political differences.
“Trade between China and India soared 70.1% in US dollar terms in the first five months of this year to $48.16 billion,” according to Chinese customs data released on Monday. “Specifically, Chinese exports to India grew 64.1% year-on-year from January to May, while imports surged 90.2%,” the tabloid Global Times reported.
The India-china trade volume was higher than the trade that Beijing conducted with other trading partners, the report said.