China’s Strategic Shift: Plans to Increase Imports from India
Mumbai: As the U.S. prepares to impose reciprocal tariffs, China appears to be adjusting its trade approach toward India. Reports suggest that China’s ambassador to India, Zhou Feng, has expressed readiness to purchase more goods from India in an effort to balance trade between the two nations.
According to the report, China is open to strengthening trade and economic cooperation and is willing to import more Indian products that align with its market needs.
In the fiscal year 2023-24, bilateral trade between India and China reached $101.7 billion, with India facing a significant trade deficit. Government data indicates that India’s primary exports to China include petroleum oil, iron ore, and marine products.
During the same period, India exported $16.6 billion worth of goods to China. The timing of China’s statement is noteworthy, as U.S. President Donald Trump is set to enforce reciprocal tariffs on countries worldwide starting April 2. India imports a range of products from China, including electronic goods, steel, semiconductors, and pharmaceutical raw materials.
Recently, in a podcast, Indian Prime Minister Narendra Modi praised Trump extensively. Modi also stated that discussions with Chinese President Xi Jinping are ongoing to maintain peace at the India-China border. Relations between the two nations have been strained since the 2020 border clash between their soldiers.
