India’s trade deficit in first quarter of 2017-18 has been Rs. 2,62,304.41 crores. In April May June, India Imported goods worth Rs. 7,26,581.12 crores while export in this duration was Rs. 4,64,276.71crores. In first quarter itself India registered trade deficit more than 2.6 lacs crores.
India’s no. 1 trade partner is China. India’s total trade with China is Rs. 1,33,004 crores in first quarter of 20117-18. While India exported Rs. 16 thousand crores and at same time imported 1.16 lacs crores. India has negative trade balance with China. India’s total trade deficit in first quarter is 2.62 lacs crores and 40% of it is with China amount Rs 1 lac crore.
USA is at rank 2 with India as trade partner. India exported goods worth rs. 75k crores and imported worth rs. 38k crores, thus leaving a trade surplus of Rs. 36k crores.
Top 25 countries India trade with, India has trade deficit with China, Switzerland, Saudi Arab, Korea, Germany, Indonesia, Iraq, Australia, Nigeria, Russia, Japan, Iran, Malaysia and Thailand.
India has trade surplus with Italy, Hong Kong, Singapore, Vietnam, UK, United Arab emirates, and Unites states of America.
|Rank||Country||Export||Import||Total Trade||Trade Balance|
|1||China P Rp||16,441.9||116,562.1||133,004.0||-100,120.3|
|2||U S A||75,017.5||38,393.7||113,411.2||36,623.8|
|3||U Arab Emts||54,795.9||40,498.1||95,293.9||14,297.8|
|23||Vietnam Soc Rep||9,771.0||6,442.6||16,213.5||3,328.4|
|Total Of Top Countries||322,876.0||575,232.9||898,108.9||-252,356.9|
|% Share Of Top Countries||69.5||79.2||75.4||96.2|
In First quarter, India’s total export was worth Rs. 4.64 lacs crores, top 25 countries contributed 69.5% of total export. India total Import bill was Rs. 7.26 lacs crores and 79.2% i.e. 5.75 lacs crores of goods were imported from top 25 trading partners.
It is interesting to note that 96.2 % trade deficit was occurred due to top 25 countries. India’s trade deficit in first quarter of 2017-18 was Rs. 2.62 lacs crores, however top 25 trading nations contributed 2.52 lacs crores. Trade deficit was highest with China, it was rs. 1 lac crore and accounted 40% of total trade deficit.
India is not having good relations with China, India support Pakistan in International politics. It has given unconditional support to terrorist hafiz saeed. India and china were facing war like situation over Doklam issue. Dokalm issue was resolved at highest political level.
Indians did have negative sentiments against China and Chinese good. However due to India’s import need, India’s dependency on import from China is to be continue. Make in India is yet to take off. PM Modi need to deliver on ground than ‘man ki Baat’ on radio.