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Imports from China: After over a year, has call for boycott of Chinese goods fizzled out for MSMEs? -Sandeep Soni

-Financial Express

Trade, import, and exports for MSMEs: Imports from China were up 51.5 per cent from $45.17 billion during the first nine-month period of 2020 to $68.46 billion for the corresponding period of 2021.

Trade, import, and exports for MSMEs: China has managed to remain too competitive to be ignored by Indian MSME and other manufacturers for importing goods despite the anti-China sentiment that gained ground last year post border clash in June. According to the data from China’s border agency General Administration of Customs, which looks after customs, the bilateral trade between China and India grew 49.4 per cent during the January-September 2021 period to $90.38 billion from the year-ago period, with the $100-billion mark in sight now.

Imports from China were up 51.5 per cent from $45.17 billion during the first nine-month period of 2020 to $68.46 billion during the first nine-month period of 2021 while exports to China increased 21.6 per cent from $15.31 billion to $21.91 billion during the January-September period of 2020 and 2021 respectively. Over 50 per cent growth in imports from China led to the growth in trade deficit with China to $46.55 billion from $29.86 during nine months. Key imports from China for India have been parts of automobiles, smartphones, telecom and electrical instruments, chemicals, fertilisers, and more.

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