Commerce minister Piyush Goyal has said that India's trade deficit with China has actually come downNew Delhi: Commerce minister Piyush Goyal stated on Monday that there was no extraordinary increase in trade with China and that the trade deficit with the neighbouring nation has actually boiled down to $44 billion in 2021 from $48 billion in 2014-15.
Mr Goyal even more stated that from 2003 and 2013-14, when the United Progressive Alliance (UPA) was in power, imports from China had actually 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 locations in Arunachal Pradesh and setting up towns in Indian area, the federal government was still continuing with $100 billion trade with China.
It (trade deficit) nearly remains constant ...
I can assure you that there is no amazing increase (in trade) with China, Mr Goyal stated.