India's Trade Deficit With China Has Come Down: Piyush Goyal

Commerce minister Piyush Goyal said on Monday that there was no extraordinary increase in trade with China and that the trade deficit with the neighbouring country has come down to $44 billion in 2021 from $48 billion in 2014-15.

Mr Goyal further said that from 2003 and 2013-14, when the United Progressive Alliance (UPA) was in power, imports from China had increased 1,160 per cent. There was also a 24 times increase in trade deficit from $1.5 billion in 2004-05 to $36 billion in 20-13-14, he added.

Mr Goyal's remarks come days after Congress spokesperson Gourav Vallabh criticised the government saying that while China was renaming places in Arunachal Pradesh and setting up villages in Indian territory, the government was still carrying on with $100 billion trade with China.

"It (trade deficit) almost remains steady… I can assure you that there is no extraordinary increase (in trade) with China," Mr Goyal said.