India can reduce trade deficit with China by $8.4 bn: study

xi-modi

According to a study conducted by Acuité Ratings & Research India can reduce its trade deficit with China by $8.4 billion, which is equivalent 17.3% of the total deficit. This can be done by rationalizing of imports in sectors like chemicals, automotive components, bicycles parts, drug formulations, cosmetics, and consumer electronics in which India has significant manufacturing capabilities. This study becomes significant in current context where India –China relations are deteriorating and India is looking to reduce imports from China. This news is related to the topic, India and neighborhood relations of GS 2 and Indian Economy of GS 3.

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