Last year was the United States of America and the United Arab Emirates in third place. India imported goods worth $ 58.7 billion from China,
which was more than the sum imported from the United States and United Arab Emirates, while India exported $ 19 billion to China.
After the death of 20 Indian soldiers in the skirmish in the Galvan Valley, there was a tense atmosphere between the two countries. China has admitted a few days ago that four of its soldiers were also killed. However, India claims that there were more Chinese casualties in it.
After Galvan’s incident there was definitely some impact on the two-way trade between the two countries, which was further affected by the epidemic. But not too much.
All investments from China were banned by the Indian government, with more than 200 Chinese apps banned,
citing security reasons, including the popular apps Tiktok, WeChat and Weibo.
How effective is the self-reliance campaign?
In May last year, the Indian government started a campaign of self-sufficiency aimed at reducing imports,
boosting exports and promoting manufacturing within the country, while experts say these campaigns are more about reducing dependence on China Was focused.
But the latest trade statistics show that despite all these steps, dependence on China has not been reduced. According to statistics, bilateral trade between India and China was $ 77.7 billion last year,
which was slightly lower than last year’s $ 85.5 billion according to provisional figures from the Commerce Ministry.
On the other hand, the Government of India has misinformed the news in the media about approving Chinese investment again. Anyway, China has never been a heavy investor in India. China invested $ 2.174 billion in India between 2013 and 2020.
This amount is a small part of foreign investment in India. According to the Commerce Ministry, between April and November in the year 2020,
more than 58 billion dollars of foreign investment came into India.
Dr. Faisal Ahmad, a specialist in Chinese affairs at the Four Schools of Management in Delhi, says self-sufficiency does not mean that imports should stop or foreign investment does not come into the country.
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