India’s ever-rising trade deficit with China fell for the first time in 2018-19, but an analysis of trade data shows the country may be pushing its exports to India through Hong Kong to hide the actual extent of its trade surplus with India.
The commerce ministry on Friday said trade deficit with China narrowed by $10 billion in 2018-19 to $53 billion. Trade minister Suresh Prabhu tweeted: “Whopping reduction (in) trade deficit with China. Unprecedented. Exports increased substantially. Result of high-level engagement, strategic planning, coordination with stakeholders, market research, sustained efforts, constant monitoring, hand holding with exporters.”Read More…
