This fiscal year, India and China's trade deficit decreases to $51.5 billion.

Commerce and Industry Minister Piyush Goyal said the trade deficit between India and China has climbed to $51.5 billion in April-October . The rise in the import of electronic components, computer software and peripherals, telephone components, etc.

New Delhi: According to data provided by Commerce and Industry Minister Piyush Goyal in a written reply to the Rajya Sabha, the trade deficit between India and China has climbed to $51.5 billion in April-October this year, up from $60.27 billion in 2014-15 to $21.26 billion in 2021-22, an increase of 78.2 percent over the last six years.According to Goyal, the trade deficit with China has since increased by only 100% to $73.31 billion in 2021-22, and is mostly used to satisfy the demand for fast growing industries like electronics, telecom, and power in India.The rise in the import of electronic components, computer software and peripherals, telephone components, etc.can be attributed to the transition of India into a digitally empowered society and a knowledge economy.

In response to a query about China imports, he said that many imports are feedstocks for further development in India and exports from India.

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