India-China trade reached a new high of $125 billion

According to official data released on Friday, bilateral trade between India and China reached a new high of over $125 billion in 2021, surpassing $100 billion in a year when relations hit a new low due to a prolonged standoff by militaries in eastern Ladakh, while India’s trade deficit grew to over $69 billion.

According to the state-run Global Times, overall trade between China and India in 2021 was $125.66 billion, rising 43.3 percent from 2020, according to figures from the General Administration of Customs.

From January to December, China’s exports to India increased by 46.2 percent to $97.52 billion, while India’s exports to China increased by 34.2 percent to $28.14 billion.

In 2021, India’s trade deficit increased to $69.38 billion.

For more than a decade, India has expressed its alarm over China’s rising trade deficit, urging Beijing to open its markets to Indian IT and pharmaceutical companies.