Focus: GS-III Indian Economy
Why in news?
India’s imports from China have risen to $5.6 billion in July 2020, rising for 2 months in a row.
- Although imports from China are still down by almost 25% from 2019, the imports from China have been rising in the past two months.
- India’s imports from China, its largest trading partner in goods, had fallen to a record low in the months of April and May 2020, coinciding with the lockdown.
- However, now they have risen back in the past to month to the pre-lockdown levels.
- The primary reason for the rise according to experts is Chinese exports of medical supplies.
- Two-way trade continues to be heavily tilted in China’s favour, with India’s exports, which are up 6.7% year-on-year.
- The slump in China’s exports to India contrasts with its recovery overall.
- Much of the recent resilience of exports has been due to shipments of masks, medical products and work-from-home equipment.
-Source: The Hindu