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India-China trade touch record $126.6 bn in 2021

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India-China trade cross $126 bn in 2021

Bilateral trade between India and China touched a record $125.6 billion in 2021, notwithstanding the political chill. In 2020, the figure was $87.6 billion. In the first 11 months of 2021, itself trade between the two had crossed the $100 billion mark.

In 2001, it was just $1.83 billion.

An insider said that both countries have shown the maturity to ensure that economic and trade activities do not get impacted by the political climate.

Also read: 14th round of India-China border meeting to take place on Wednesday

“We are driven by our own priorities and interests to ensure that our manufacturers and other businesses continue seamlessly. There has never been any intention to disrupt trade but at the same time, we will boost our manufacturing and capacity purely for our benefit, it has nothing got to do with what other countries are doing,” an insider told India Narrative.

Meanwhile, India, which has not signed any trade deals since 2012, is now moving fast on inking bilateral trade deals. While an announcement with UAE is expected soon, India and the UK have launched official negotiations last week. Talks are expected to end by December.

In 2020, though India pulled out of the Regional Comprehensive Economic Partnership (RCEP), sources said that most countries including China are keen to see New Delhi join the pact at “some point.”