China returns as India's top trade partner despite border tensions
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Monday
March 27, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
MONDAY, MARCH 27, 2023
China returns as India's top trade partner despite border tensions

Global Economy

TBS Report 
23 February, 2021, 10:15 am
Last modified: 23 February, 2021, 10:19 am

Related News

  • India, China to withdraw from disputed border area by Sept 12 - India foreign min
  • India tells China border troop pullback needed for better ties
  • India, China agree to speedy resolution of Ladakh border row
  • India, China complete troop pullout from lake area
  • India, China complete troop pullout from lake area

China returns as India's top trade partner despite border tensions

But that the souring relationship did not stop China leapfrogging the US in 2020 to become India's biggest trade partner.

TBS Report 
23 February, 2021, 10:15 am
Last modified: 23 February, 2021, 10:19 am
China regains slot as India's top trade partner despite tensions. Photo/Courtesy
China regains slot as India's top trade partner despite tensions. Photo/Courtesy

China has regained its position as India's top trading partner despite bloody conflict between the Asian neighbours, reports BBC. 

Amid a decaying relationship between the Asian neighbours, India banned 220 Chinese tech apps in last year.

But that the souring relationship did not stop China leapfrogging the US in 2020 to become India's biggest trade partner.

Two-way trade between the long-standing economic and strategic Asian rivals stood at $77.7bn (£55.2bn) last year.

Although this figure was lower than the previous year's $85.5bn total, it was enough to make China India's largest commercial partner, according to provisional data from Delhi's commerce ministry.

Global trade flows have been muted during the pandemic, although there has still been strong demand for medical equipment and supplies.

Despite efforts by India to become more self-reliant and curb trade with Beijing, it still relies heavily on Chinese-made heavy machinery, telecom equipment and home appliances.

Total imports from China stood at $58.7bn, which were more than India's combined purchases from the US and UAE - its second and third largest trade partners.

"The continuing dependence on Chinese imports is lack of availability of these at home," said National University of Singapore economist Amitendu Palit who specialising in international trade.

"Imports from China are cheap and available quickly in sufficient amounts. Imports from several other sources are not as cost-effective, and as easily available, as they are from China," he added.

The two nations were involved in a Himalayan border dispute last June that saw at least 20 Indian soldiers killed in a clash with Chinese forces.

Last week, China revealed that four of its soldiers had also died in the battle.

The incident was the first deadly clash in the border area for at least 45 years.

In response to the clashes, India's government banned TikTok, WeChat and more than 200 other Chinese-made apps in June saying they were a danger to the country.

In a statement, it said the apps were "prejudicial to sovereignty and integrity of India, defence of India, security of state and public order".
 

South Asia

India - China Relations / India-China Border Dispute

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Banks offer higher than fixed rate to remitters to build forex
    Banks offer higher than fixed rate to remitters to build forex
  • World praises Bangladesh on Independence Day
    World praises Bangladesh on Independence Day
  • International Monetary Fund Managing Director Kristalina Georgieva attends the COP27 climate summit in Sharm el-Sheikh, Egypt November 9, 2022. REUTERS/Thaier Al-Sudani/File Photo
    IMF says risks to financial stability have increased, calls for vigilance

MOST VIEWED

  • President of the Federal Reserve Bank of Minneapolis Neel Kashkari speaks during an interview in New York, U.S., March 29, 2019. REUTERS/Shannon Stapleton
    Fed's Kashkari: Banking stress brings US closer to recession - CBS
  • International Monetary Fund Managing Director Kristalina Georgieva attends the COP27 climate summit in Sharm el-Sheikh, Egypt November 9, 2022. REUTERS/Thaier Al-Sudani/File Photo
    IMF says risks to financial stability have increased, calls for vigilance
  • The logo of Saudi Aramco is seen at the 20th Middle East Oil & Gas Show and Conference in Manama, Bahrain, March 7, 2017/ Reuters
    Saudi Aramco to build refinery in China
  • An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration
    Elon Musk offers Twitter employees stock grants of $20 billion
  • Corporate America is signalling that they’re finally ready for the CEOs of the future to look different from the CEOs of the past — read: younger, less white and less male. Photo: Bloomberg
    Global layoffs extend far beyond big tech
  • Russian President Vladimir Putin and Turkish President Tayyip Erdogan shake hands during a news conference following their talks in Moscow, Russia March 5, 2020. Pavel Golovkin/Pool via REUTERS
    Putin and Erdogan held phone call, grain deal discussed

Related News

  • India, China to withdraw from disputed border area by Sept 12 - India foreign min
  • India tells China border troop pullback needed for better ties
  • India, China agree to speedy resolution of Ladakh border row
  • India, China complete troop pullout from lake area
  • India, China complete troop pullout from lake area

Features

Photo: Pexels

AROUND THE TOWN

13h | Splash
BTS Jimin. Photo: Collected via Billboard

BTS's Jimin becomes 1st solo artist to cross 1 million first day sales

13h | Splash
Photo: Courtesy

New rendition of timeless song 'Joy Bangla Banglar Joy' released in celebration of Independence Day

14h | Splash
Bob Dylan was one of the marquee performers in 'Concert for Bangladesh' in 1971

Bob Dylan goes back in time to 'Concert for Bangladesh'

14h | Splash

More Videos from TBS

Munshiganj's Ariyal Bill is famous for its sweet pumpkin

Munshiganj's Ariyal Bill is famous for its sweet pumpkin

8h | TBS Stories
“Want to be a good guitarist? Practice and practice”

“Want to be a good guitarist? Practice and practice”

6h | TBS Entertainment
Russia's last resort Asia after UEFA and FIFA ban

Russia's last resort Asia after UEFA and FIFA ban

9h | TBS SPORTS
Why British citizens are considering Brexit as a mistake?

Why British citizens are considering Brexit as a mistake?

14h | TBS World

Most Read

1
Sadeka Begum. Photo: Courtesy
Panorama

Sadeka's magic lamp: How a garment worker became an RMG CEO

2
Photo illustration: Steph Davidson; Getty Images
Bloomberg Special

Elon Musk's global empire has made him a burning problem for Washington

3
Photo: Bangladesh Railway Fans' Forum
Bangladesh

Bus-train collides at capital's Khilgaon on Monday night

4
Photo: Collected from Facebook
Bangladesh

Arav Khan under UAE police 'surveillance'

5
Sabila Nur attempts to silence critics with university transcripts
Splash

Sabila Nur attempts to silence critics with university transcripts

6
Sehri, Iftar timings this year
Bangladesh

Sehri, Iftar timings this year

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]