India-China trade deficit soars to $47 bn as business ignores Ladakh crisis, ‘Atmanirbhar’ push


Source: msn.com msn.com

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New Delhi: The Modi government’s attempts to reduce India’s dependence on goods manufactured in China and push self-reliance alongside since the military confrontation in Ladakh last year does not seem to be making much headway if India-China trade figures are any indication. While bilateral trade is on track to hit a record-high of $100 billion, New Delhi’s trade deficit with Beijing ballooned to $46.55 billion in the first nine months of this calendar year — higher than the full-year figure in the last fiscal — and is expected to rise further by the end of 2021, according to latest data...