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Trade deficit widens with China despite exports surge
November 23, 2025
|The Morning Standard
EVEN as Indian exports to China grew 25% during the April-October period, India’s trade deficit with China continued to widen, touching $64 billion in the first seven months of the current financial year, compared with $57.65 billion in the same period last year.
In 2024-25, India’s trade deficit stood at $99.12 billion.
While the government has attributed the recent surge in exports to China to diversification of export markets in response to the impact of US tariffs, India’s overall exports to China have been on a declining trend for the past five years. India’s exports to China fell nearly 33% between 2020-21 and 2024-25, even as imports from China rose by almost 74% over the same period.
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