India imports extra from China, exports much less throughout Apr-Oct 2024: Govt knowledge –

China was India’s high import supply with $65.89 billion, a 9.8 per cent year-on-year enhance, value of inbound shipments through the April-October interval of this fiscal, in keeping with the commerce ministry knowledge.

Exports to China, nevertheless, dipped by 9.37 per cent to $8 billion.

During the interval, the US emerged as the highest export vacation spot for the nation with outbound shipments rising by 6.31 per cent to $47.24 billion.

During the interval, the highest 10 import sources of India have been China, Russia, the UAE, the US, Iraq, Saudi Arabia, Indonesia, Korea, Switzerland and Singapore, the information confirmed.

Imports from Russia rose by 8.85 per cent to $38.8 billion throughout April-October this fiscal from $35.65 billion a 12 months in the past.

Similarly, the inbound shipments from the UAE rose by 55.12 per cent to $38.64 billion from $24.9 billion within the first seven months of the final fiscal.

During the interval, the highest 10 export locations of the nation have been the US, the UAE, the Netherlands, the UK, China, Singapore, Saudi Arabia, Bangladesh, Germany and Australia.

Exports to the UAE rose by 15.86 per cent from $18 billion throughout April-October 2023 to $20.93 billion throughout April-October this fiscal.

In 2023-24, the US was India’s largest buying and selling accomplice, adopted by China.

China was India’s high buying and selling accomplice from 2013-14 until 2017-18 and in 2020-21. Before China, the UAE was the nation’s largest buying and selling accomplice. The US was additionally India’s largest buying and selling accomplice in 2021-22 and 2022-23.

Further in October, imports from the UAE, with which India has a free commerce settlement, jumped by 70.37 per cent to $7.18 billion, whereas exports grew by 43.32 per cent to $3.72 billion.