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India's Growing Import Dependency on China Raises Concerns

India's Growing Import Dependency on China Raises Concerns

30 Apr, 2024

India's imports from China have surged, crossing $101 billion in 2023-24 from $70 billion in 2018-19, leading to a growing trade deficit. The Global Trade Research Initiative (GTRI) highlights concerns over China's dominance in eight key industrial sectors. While India's exports to China stagnate, imports soar, resulting in a cumulative trade deficit exceeding $387 billion over six years. This dependency, especially in machinery and pharmaceuticals, poses economic and national security risks, necessitating a reassessment of import strategies to reduce reliance on China.

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