Is India’s trade dependence on China rising or falling?


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India’s reliance on the EU and China rose by 1.2 percent annually in 2023, while it declined in the case of Saudi Arabia by 0.6 percent, according to the UNCTAD estimates. Days after a report by the United Nations Conference on Trade and Development (UNCTAD) showed that India’s trade dependence on China and the EU increased in 2023 while it reduced on Saudi Arabia, the commerce and industry ministry refuted the claim saying that the country’s import from China declined 3% in calendar year 2023 over 2022 and exports to both China and the EU rose 7.1% and 2.1%, respectively...