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Higher imports from China against exports due to structural issues: GTRI
#New Delhi
The improvement in diplomatic relations between India and China is unlikely to dramatically alter the economic and trade ties between the countries in the near future, think tank GTRI said on Wednesday.
It said that India’s low exports and high reliance on Chinese imports, especially in industrial sectors, are due to structural issues and it will require long-term policy efforts to address the imbalance.
For India, reducing its trade deficit with China and encouraging more balanced economic relations will require a multifaceted approach, including strengthening domestic manufacturing capabilities, diversifying its import sources, and promoting export growth, it added.
Despite India’s efforts to boost local manufacturing, the country remains heavily dependent on Chinese imports, especially in sectors like electronics, telecommunications, and machinery. PTI
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