外文标题：India’s trade deficit with China balloons to $12 billion
BEIJING: The India-China trade deficit increased by 34 per cent to reach $12 billion in the first five months of the year, presenting a bleak picture for Indian exports as bilateral trade continued to decline, denting hopes of achieving a trade volume of $100 billion by 2015.
According to the data released by Chinese customs, the India-China bilateral trade touched USD 26.5 billion till May 2013.
The trade deficit for India has widened year-on-year to $12 billion, up by 34 per cent. The trade volume was lowered by over $2 billion compared to last year.
Bilateral trade fell to about $66.7 billion last year from around $74 billion in 2012. The trade deficit touched about $30 billion last year, causing concerns in India.
While the Chinese exports registered marginal increase the bilateral trade numbers are falling.
Exports have declined substantially while imports have risen marginally, officials here told PTI.
Much to the disquiet of India, its main items of exports like cotton, iron ore and copper have continued their downward slide.
Iron ore declined sharply by 76 per cent to $595.42 million. Cotton and copper declined year-on-year by 40 per cent to $1.39 billion and 24 per cent to $688.53 million respectively.
India’s overall share in Chinese exports has dropped to under 1 per cent from 1.33 per cent, the data showed.
Cotton yarn and diamonds are the other two exports that rounded off the top five. Cotton yarn is the sole bright spot showing a jump of 115 per cent to reach a value of $740 million.
Diamonds have increased at a modest 14 per cent to record $562.1 million.
The Chinese exports to India maintained an even keel, rising by 2.7 per cent year-on-year.
The declining trade as well the promise held out by the Chinese Premier Li Keqiang in the last month’s visit to New Delhi to provide more market access to Indian goods were the focus of discussions between the two countries in the past few weeks.
BRAHMAKUMARI DEEPAM (waltair)
be indian and buy indian…… got to bring down the trade deficit
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Made in China products sell world over but the quality supplied to India is a big Q .Cheap Chinese goods are sold everywhere in India without any quality checks whereas Indian products are not so desired by Chinese consumers. India has lost jobs to Chinese beside border areas.Our foreign policies and trade organizations are too incompetent
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India is going to be in the deficit trap for ever, if it does not make efforts to improve and steps up home manufacturing. Even some of the developed countries went into serious difficulty by over dependence on imports, particularly concentrated to one source.
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Himangshu Bhuyan (Bangalore)
It’s not a bad thing to have a trade deficit with China. It makes economic sense to import goods from the cheapest source and as we all know, China today is one of the cheapest exporters in the world. Why, even the US has a huge trade deficit with China.
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No good news ever comes from this country.
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Indian exports depends on flunctuating market priced commodities and the Chinese usually buy these commodities at lower prices from India and then use them to make valued added goods and sell them back to India at higher prices. This is similar to what the Chinese are doing in Africa now. Of course this trade relationship favours the Chinese.
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doesnt matter (Bangalore)
This is one of the biggest positive news in the recent times. India’s exports to china was raw materials which being reduced is good for India from a larger perspective.
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If we are importing essential commodities from China it is alright. If we are importing items which we can manufacture in India the Government shall impose a ban on such imports immediately.
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Hero Vaz (Texas)
Doesn’t India have the sense to cut its imports from China. Quite a few things imported are unnecessary and sub-standard.
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Congress target is to make this country beggar. China has gone far ahead of India but we are still living in Stone Age. Most of the jobs we are getting are created by foreigners, what India has done for its growing population??? Govt say if you are earning Rs 28 per day then you are not poor but how to earn this Rs 28 without getting any work???
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China is busy making its economy strong, India under Sonia led Congress is busy appeasing minorities and inventing novel welfare schemes at the cost of development. Soon we will become beggars and China a donor.
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vijay banga (new delhi)
China exports pins to Projects and we export besides Cottons, ore, diamonds-Bananas and have reason to complain. When the quantum rises to $ 100 billion the deficit will be 70 billion if steps are not taken today, mere discussions cannot balance the situation we must have something to offer.
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Why don’t we manufacture set top boxes, calculators, small electric & electronic items when we send GPS satellite in to the orbit? Really we should not blame our entrepreneurs.. the Indian govt support in the manufacturing is nothing when comparing the Chinese rulers giving. The Chinese buying rough granite from India process it in China & selling again in bangalore for a rate much cheaper than our granite slab processors. ………Some dynamic leader should take control if this disintegrated nation.
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Now you get..its not gold but import from China caused rupee devaluation..
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Rajan (New Delhi)
Totally ban import from China
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sanjeev Khurana (Dehradun) replies to Rajan
why not change policies and start exporting to China???
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PunebetterthanMumbai (Mumbai) replies to sanjeev Khurana
What products do we have are worth exporting to other countries?none. Nobody wants to buy our junk and that’s the problem. It needs fixing
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Speak sense (India)
Let it increase to 50 billion, then china will never try to invade India, otherwise it will never get its due
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India exports iron ore to China and imports Chinese steel manufactured with Indian iron ore. This is similar to what British did to India for more than 100 years of colonisation. India must stop iron ore and other raw material exports to China and develop its own manufacturing industry.
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PunebetterthanMumbai (Mumbai) replies to Ind
That’s the only product worth exporting in India. Nobody wants to buy our low quality brands.
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what is finance minister’s statement on this. I guess he will say no need to worry.
All burden will b passed to the next forming Govt in 2014. UPA will criticize the same sitting in opposition chair.
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We need to accept the fact. We dont have anything to Export to China. Can’t blame Chinese. They will buy if we offer what they need. Like how we buy bcoz they offer what we need. Lets not create a misunderstanding that we are doing some favour by importing from China. This is our necessity. Most countries have trade deficit with China. We are not only one. But we are huge one as we are not good in manufacturing branded or non branded goods. All we can give China is some raw materials, thats all.
China is taking over India in a friendly way.
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