India-China trade hits a record $84.4 billion
- The India-China bilateral trade has reached $84.44 billion last year, a historic high, notwithstanding bilateral tensions over a host of issues, including the Doklam standoff.
‘40% rise in exports’
- About 40% increase of Indian exports to China in 2017 totalling to $16.34 billion.
- The bilateral trade in 2017 rose by 18.63% year-on-year to reach $84.44 billion. This is regarded as a landmark, as the volume of bilateral trade for the first time touched $80 billion, well above the $71.18 billion registered last year.
- Trade touched a historic high despite bilateral tensions over a number of issues including the China-Pakistan Economic Corridor, China blocking India’s efforts to bring about a UN ban on J-e-M leader Masood Azhar, Beijing blocking India’s entry into the Nuclear Suppliers Group as well as the Doklam standoff.
- Trade had stagnated around $70 billion, despite the leaders of both nations setting a $100 billion target for 2015.
Key points to remember