Union Commerce and Industry minister Piyush Goyal on Monday informed the Parliament that India’s imports from China plunged by 27.63 per cent during April-August this fiscal to $21.58 billion over the same period previous year.
Value of imports from China stood at $4.98 billion in August and $5.58 in July, according to the data provided by the minister.
In a written reply to the Lok Sabha, Mr Goyal stated that “India’s imports from China have declined by 27.63 per cent during April-August, 2020-21 over the corresponding period of the previous year”.
In a separate reply, the minister also informed that there is no proposal under consideration on withdrawal of Most Favoured Nation (MFN) status to China.
“No such proposal is under consideration at this time,” he said while responding to a question posed on whether the government was planning for the withdrawal of MFN status to China to decrease the export-import business with that country.
During the first half of September, exports have recorded a growth of 10 per cent over the same period last year, he said, thereby stressing on how the country’s export is reviving,