Beijing moves to soothe India over $100 billion trade deficit

Beijing has signaled its intention to address India's concerns about a growing trade deficit that was estimated at a record $100 billion in FY25, people close to the development said, with the aim apparently of placating New Delhi through more imports amid Beijing's escalating trade war with Washington.

- Rajeev Jayaswal & Rezaul H. Laskar

NEW DELHI:

China has informally sent feelers about addressing India's concerns on the trade deficit though higher imports of Indian goods by removing tariff and non-tariff barriers, at least three people aware of the matter said on condition of anonymity. The move comes at a time when China is grappling with US tariffs of 145% on all Chinese goods.

India hasn't taken any formal position on the matter as yet because such bilateral talks involve the principle of reciprocity. New Delhi fears that easing trade barriers bilaterally could further aggravate the dumping of Chinese goods in India, these people added.