China regains slot as India’s top trade partner despite tensions

SourceBBC
SectorEconomy
CountryMiddle east

Image copyrightGetty Images China has regained its position as India's top trading partner despite a decaying relationship between the Asian neighbours. The two countries were involved in a bloody border conflict last year and saw India ban 220 Chinese tech apps. But that did not stop China leapfrogging the US in 2020 to become India's biggest trade partner. Two-way trade between the long-standing economic and strategic Asian rivals stood at $77.7bn (£55.2bn) last year. Although this figure was lower than the previous year's $85.5bn total, it was enough to make China India's largest commercial partner, according to provisional data from Delhi's commerce ministry. Global trade flows have been muted during the pandemic, although there has still been strong demand for medical equipment and supplies. Despite efforts by India to become more self-reliant and curb trade with Beijing, it still relies heavily on Chinese-made heavy machinery, telecom equipment and home appliances. Total imports from China stood at $58.7bn, which were more than India's combined purchases from...read more...