Economics
India Cuts Trade Deficit With China by $10 Billion, Sources Say
- New Delhi’s exports to Beijing jumped 31% during April-March
- Several pending trade-related issues have been resolved
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India cut its trade deficit with China by the most in more than a decade, according to people familiar with the data, as it boosted exports amid a U.S.-China trade war.
The South Asian nation’s exports to China jumped 31 percent year-on-year to $17 billion in the financial year ended March 31, the people said, asking not to be identified as the data is not public yet. In the process, it cut the bilateral trade deficit by $10 billion to $53 billion.