India’s exports to China registered a sharp increase of over 53 per cent year-on-year to reach $1.24 billion in October, but the trade deficit continued to mount, according to data released by the customs. The trade deficit for October stood at $3.86 billion. Despite the strains in the bilateral ties, India-China trade increased by 13.56 per cent year-on-year to reach $6.33 billion in October.
Significantly, India’s exports to China increased by 53.04 percent year-on-year to reach $1.24 billion though the trade deficit continued to grow. The Indian exports to China around the same time last year was $0.81 billion, data showed. China’s exports to India also continued to grow registering an year-on-year growth of 6.87 per cent to reach $ 5.09 billion. It were boosted by natural pearls, precious stones and precious metals, organic chemicals, copper and articles, cotton, including yarn and woven fabric, ores, slag and ash.