Of which, China’s exports to India were $97.52 billion, up 46.2 per cent, while China imported $28.14 billion worth of goods from India, up 34.2 per cent. Analysts attributed the surge in trade to the complementary aspects of the industrial chains of the two countries. For example, about 50-60 per cent of chemicals and other materials used by the Indian pharmaceutical industry, which is a pillar industry, are imported from China. India was China’s 15th largest trade partner in 2021, the Global Times quoted the GAC as saying. Meanwhile, India should not exclude China when it seeks free trade agreements as China is already involved in international free trade mechanisms,” the Global Times said.

Source: Mint January 15, 2022 10:42 UTC