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India’s trade deficit with China dips

Part of: GS Prelims and Mains III – Indian Economy and related issues; Trade deficit

In news:

India’s trade deficit with China fell to $48.66 billion in 2019-20 due to decline in imports.
The trade deficit stood at $53.56 billion in 2018-19 and $63 billion in 2017-18.

Note: A trade deficit is an economic measure of international trade in which a country’s imports exceeds its exports.

(Trade Deficit = Total Value of Imports – Total Value of Exports)

Recent measures taken by the Indian government to reduce the widening trade deficit with China:

It is framing technical regulations and quality norms for several products to reduce dependence on Chinese imports.
It has imposed anti-dumping duties on goods, which are being dumped in the domestic market at below the average prices from China.
Government tightened norms for FDI coming from countries which share a land border with India.

Do you know?

As per the amended FDI policy, a company or an individual from a country that shares a land border with India can invest in any sector only after getting government approval.

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