India's exports to China jump 32% in June-November 2018: FIEO

Amid huge trade deficit with the neighbouring country, apex exporters body, Federation of Indian Export Organisations (FIEO) has stated that India's exports to China jumped 32% to $8.46 billion in the June-November of 2018, as compared to $6.37 billion in June-November 2017. It added that the country was mainly benefited from the tariff war between the US and China.

FIEO President Ganesh Kumar Gupta said commodities that have exhibited high growth during the period to China include petroleum products, chemicals, cotton yarn, plastic raw material, and marine products. Growth in exports to China is beneficial for India as it has huge trade deficit with the neighbouring country. Trade deficit with China increased to $63.12 billion in 2017-18 from $51.11 billion in 2016-17.

Besides, India is taking several steps to promote shipments to China. Recently, it has managed to export agricultural goods such as non-basmati rice to China. Meanwhile, in June and September 2018, the US announced high customs duties on several Chinese goods. In retaliation, China also raised levies on American goods.