18th October 2021, Mumbai:
India-China trade may touch the $100-bn mark this year the way things are panning out. But quite surprising The US is about to pip China as India's largest trading partner.
A low down on India-China trade is," Given the volume which has hit $90.37 billion in the first three calendar quarters it is set to cross $100 billion this year —with a slated hike of 49.3 percent year-on-year (YoY)—notwithstanding there is an ongoing border standoff.
Noteworthy is the slice & dice of business volume is," China's total imports and exports ballooned by 22.7 percent year on year (YOY) to 28.33 trillion yuan (about $4.38 trillion) in the first nine months of the calendar year of 2021, official data showed.
Make no mistakes, "The figure is well above 23.4 percent even from the pre-epidemic level in 2019, according to China’s General Administration of Customs.
This is the important message when the Indian premier has already given a clarion call for ATMA NIRBHAR BHARAT and a semblance is the host of initiatives are already been taken and in the offing to give a leg up to the manufacturing sector in India.