India has a keen eye on imports from neighboring countries. China is following the route of Hong Kong to send goods to India. This is the reason why India’s trade deficit with China decreased in FY 2019-20, but India’s trade deficit with Hong Kong increased. According to sources, the Commerce Ministry is reviewing the growing trade deficit with Hong Kong. So that Chinese goods coming from Hong Kong route can be banned.
Petrol and diesel prices continue to increase, Know today’s rate
According to the Commerce Ministry data, India’s exports to China increased from $ 13.33 billion in FY 2018-19 to $ 16.93 billion in FY 2019-20. India’s imports from China declined from $ 76.38 billion in 2018-19 to $ 65.26 billion in FY 2019-20. As a result, the trade deficit in the last financial year has come down from $ 63.05 billion in FY 2018-19 to $ 48.66 billion.
One can easily get gold loan in corona period
According to the Commerce Ministry data, India’s trade deficit with Hong Kong, on the other hand, is increasing. India exported $ 10.96 billion to Hong Kong in 2019-20 while India imported $ 16.93 billion from Hong Kong. Thus, India’s trade deficit with Hong Kong stood at $ 5.97 billion in FY 2019-20. Exporters need to focus on the totality of trade with China and Hong Kong. Given the growing trade deficit from China, India was pressurizing it to open the Chinese market for pharma and other commodities to reduce it. In view of this, China is following the way of Hong Kong to send goods. On this input from exporters, the Ministry of Commerce is preparing to keep a close watch on imports from Hong Kong. According to sources, the government is keeping an eye on all the routes from where China’s goods can come.
140 workers of Bajaj factory found corona infected, two killed
