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India's trade deficit with China mounts to USD 31.42 billion

Beijing: India's trade deficit with its top trading partner China continued to mount, touching a whopping USD 31.42 billion as the bilateral trade declined by 1.5 per cent in 2013, registering a downward trend for
PTI January 10, 2014 18:43 IST
PTI
Beijing: India's trade deficit with its top trading partner China continued to mount, touching a whopping USD 31.42 billion as the bilateral trade declined by 1.5 per cent in 2013, registering a downward trend for the second consecutive year.

India's trade deficit increased by USD 2.5 billion compared to 2012, bringing into sharp focus the failure of Indian exports to make headway into China despite repeated promises by Beijing to address India's concerns.  

Trade data from January to December 2013 released by the Chinese customs today showed that India-China bilateral trade, too, was on a declining trend for the second year.  

The bilateral trade touched USD 65.47 billion, a slight dip of 1.5 per cent year-on-year.

The bilateral trade declined to USD 66.7 billion 2012 from around USD 74 billion in 2011.