Despite best attempts, India-China trade keeps growing
The Indian government has been excessively promoting self-reliance under its Make in India initiative. But despite its best efforts, they have been failing to control reliance on its neighbor–China.
Data revealed that in 2021, bilateral trade grew 43.3 percent, which is a huge trade record given the disturbing relationship between the two countries. The data was revealed by the Chinese government where they said that this year marked a record high in exports to and imports from China.
The Indian side is yet to make a comment on this as it will be dealing with questions aimed at promotion of Make in India. It was found out that in India, in 2021, imports rose to $97.5 billion, which is 46.1 per cent more than that of 2020.
2020 saw the outbreak of the Covid-19 pandemic which became primarily the reason why trade was so badly affected. It was impacted for China as well India as the two shared a heavily dependent relation as far as trade is concerned. But the highlight of the report was that imports in 2021 were up 30.3 percent over 2019.
2019 was a solid year for India but still with China, iit had not strained its relations in terms of trade. Switching to 2020, India decided to take tougher calls and make China its trade enemy.
In 2021 again, it found its dependence on China even more than 2019. India has not been accepting its stance on the matter and is avoiding confrontation for a long time. As per the data, India’s total trade with China in 2021 was worth $125.7 billion. The high mark of the trade between the two countries is also shocking given the border situation. The militaries of both countries have been unable to come to terms with the growing aggression.