Almost a week ago, Logistics Insider reported how India’s imports from China hit record high and experts had mixed reactions to it. As per the latest information, India’s exports to China have also seen a considerable increase of 34% in 2021. Data shows that the exports to China reached USD 22.9 billion in the last calendar year as compared to USD 17.1 billion in 2019.
There is a shift in the growth pattern of trade in 2021 with respect to 2020. In the post-COVID-19 period, India’s merchandise trade with all other top trading partners except for Hong Kong and Singapore have registered growth higher than that of the growth registered with China in 2021 over 2020.” an expert said
China’s imports from the world are a lucrative market and it seems that the Indian exporters have found a way to tap it, along with other nations.In the USD 6 trillion consumer market, witnessed a faster rise in the exports in comparison to 2019, when the imports increased at a faster pace.
Our exporters are doing quite good in China. We can push our exports further.” Mr. Khalid Khan, Vice-President, Federation of Indian Export Organizations. Mr. Khan sees a huge export potential for Indian exporters in China. India’s biggest exports to China are iron ore, cotton, and other raw material-based commodities.
In 2021, most of India’s exports were made to the United States (USD 112.3 billion), followed by China (USD 110.4 billion), UAE (68.4 billion), Saudi Arabia (USD 35.6 billion), Switzerland (USD 30.8 billion), and Hong Kong (USD 29.5 billion).