Despite all the clashes and ongoing disputes, the trade channels between the two countries are still open and flowing as normal. It has been revealed that recently, China has managed to regain the spot that it used to have in the past with respect to being India’s trading partner.
China has reportedly regained the position for being the top trading partner of India. It was just last year when both Asian countries got into a huge clash at the borders and the drama between the two is still going on.
In order to condemn and protest against China’s actions, India went ahead and banned 220 applications that belonged to China.
Although India successfully managed to ban 220 Chinese applications, it could not do the same with the actual trades. This is the reason why China was not impacted by the applications being banned and emerged as the most successful country in 2020.
China not only outdid the United States in the entire world but it also outdid the United States in trades with India. Though it was expected to due to the ongoing clash between the countries, their trades would see a significant drop. Still, China has continued to be the top trading partner with its neighbor “India” amidst all the chaos.
For a long time, both countries have been competing with each other with respect to being the top trading country on the continent. Still, they cannot help but continue to trade with each other even after so many disputes, rivalries, and severe clashes have emerged between the two countries.
According to the figures, both countries managed to do $77.7 billion worth of two-way trade with each other for the year 2020. If we look at the two-way trade figures for the year prior to 2020, the trade volume between the two in 2019 was higher than in 2020.
Despite the trading volume between the two countries in 2019 was $85.5 billion, yet China was unstoppable when it came to being the top trading partner with India.
The information has been gathered from the provisional data that has been made gathered by the Commerce Ministry of Delhi.
It has been a very long time since India has been trying its best to become independent and self-reliant on the production of equipment and supply. Still, the country has been fully dependent on doing trades with China and importing large provisions of supplies and equipment.
Some of the most important supplies and equipment India imports from China include telecom equipment, heavy machinery, and home appliances.
The stats reveal that the total imports India made from China were worth $58.7 billion. This is higher than the combined figure that India imported from the US and UAE.