India’s trade deficit with China has come down: Piyush Goyal

Commerce Minister Piyush Goyal has said that India’s trade deficit with China has come down

New Delhi: Commerce Minister Piyush Goyal on Monday said there has been no “extraordinary growth” in trade with China and the trade deficit with the neighboring country has come down to $44 billion in 2021 from $48 billion in 2014-15.

Mr Goyal further said that from 2003 and 2013-14, when the United Progressive Alliance (UPA) was in power, imports from China had increased by 1,160 per cent. He said the trade deficit widened from $1.5 billion in 2004-05 to $36 billion in 20-13-14.

Mr Goyal’s remarks came days after Congress spokesperson Gaurav Vallabh criticized the government, saying that while China was renaming places in Arunachal Pradesh and setting up villages in Indian territory, the government was still working with China. 100 billion business.

“It (trade deficit) has remained almost constant. I can assure you that there has been no phenomenal growth (in trade) with China,” Goyal said.

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