The Trade-Off
India’s imports from China
- $68.34 billion in 2019
- $58.70 billion in 2020
India’s exports to China
- $17.27 billion in 2019
- $18.92 billion in 2020
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A year after border clashes between India and China in Galwan Valley, and the subsequent Indian campaign to boycott Chinese goods, trade between the two countries has taken an unexpected turn. China is buying more from India than it did before, while Indian imports have come down sharply. But this may not be because of the campaign to boycott Chinese goods, or Prime Minister Narendra Modi’s signature Aatmanirbhar Bharat Abhiyan for import substitution. India’s imports from China have fallen significantly—from $68.34 billion in 2019 to $58.70 billion in 2020, a year when the coronavirus pandemic has ravaged the global economy. The sharp decline in imports may indicate the drive to boycott-China and Make in India was having an...
