China's export curbs ease a relief, but India must cut dependence

India's trade deficit with China hits $100 bn

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NEW DELHI: China's decision to ease restrictions on exports of rare-earth minerals and fertilisers to India is a positive signal, but India must work to reduce its dependence on the neighbouring country, with which it runs an alarming USD 100 billion trade deficit, economic think tank GTRI said on Wednesday.

It said that between 2014 and 2024, China's dominance over India's import landscape only widened.

Its share in India's telecom and electronics imports reached 57.2%, while machinery and hardware accounted for 44%. Chemicals and pharmaceuticals followed closely at 28.3%.