Indian exports to China dip by a third

Amid a slowdown in economic activity in China, India’s exports to its northern neighbour dropped 35 per cent to $6.8 billion during April-August period at a time the country's overall exports rose 17.1 per cent. China became India’s fourth largest export destination during the period, slipping from the second position during the same period a year ago. While exports of petroleum products such as naptha to China rose 81 per cent to $1.2 billion during April-July due to elevated crude oil prices, shipments of organic chemicals (-38.3 per cent), iron ore (-78.5 per cent) and aluminium products (-84.2) saw sharp decline, disaggregated data available on Commerce Ministry website showed. On the other hand, imports from China were up 28 per cent during April-August at a time when India’s overall imports grew 45.6 per cent, leading to a trade deficit of $37.1 billion in the first five months of FY23. Also Read: Z-Morh Tunnel to be completed by July 2023 Delhi Metro introduces Station Access and Mobility Programme