India depends on China in many key industries from electrical machinery and appliances to pharmaceutical drug API. Cost is a vital reason why Chinese products dominate markets across sectors.
How does India depend on China?
China remains India’s largest import market and the second-largest export market after the US. Its share in India’s total exports rose two percentage points to 7.3 per cent in 2020-21 from 5.3 per cent in 2019-20, shows data from the Indian commerce ministry, and the Chinese government’s trade data dissemination body.
Why is India so dependent on China?
“We have to keep in mind China is still our largest source of imports for critical items,” he said, “and our pharmaceuticals and electronics sectors are hugely dependent on China.” … China still remained the biggest source of India’s imports, but imports last year fell 10.8%, the lowest since 2016.
How much India is dependent on Chinese products?
For India, China accounts for 15-16% of aggregate imports (20-21% of non-oil imports). This number is actually lower than many major economies in the world, and most major economies in Asia.
Is India reliant on China?
Indeed, if anything, India’s trade dependence on China grew – trade with Beijing in 2020-21 made up nearly 13 per cent of India’s total trade compared to 10.4 per cent the year before. Meanwhile, Chinese imports made up 16.6 per cent of India’s total imports, compared to 13.7 per cent the year before.
Is India dependent on any country?
India’s depends on China for the supply of a wide range of products, from the simplest of products like nails/tacks and umbrellas to sophisticated electronic products and pharmaceutical intermediates.
What does China buy from India?
While a break-up of imports and exports was not immediately available, India’s biggest exports to China in recent years were iron ore, cotton and other raw material-based commodities, which have seen a recovery in demand in China last year, while India has imported large quantities of electrical and mechanical …