China claims that it is still India's main trading partner according to data, not the United States

China claims that it is still India’s main trading partner according to data, not the United States – Mail Bonus

China on Tuesday claimed to be India’s largest trading partner in 2021-2022, according to their figures, citing “discrepancies” in the different methods of calculating New Delhi and Beijing’s trade volumes, citing reports that the United States had taken it down. seats. take the top slot.

“According to Chinese government statistics, bilateral trade between China and India was $ 125.66 billion in 2021,” Foreign Ministry spokesman Zhao Lijian told a news conference when asked about the United States’ decision to make China its largest trading partner. . India 2021-22.

“China remains India’s largest trading partner and for the first time bilateral trade exceeded $ 100 billion in 2021,” said Zhao.

“The difference in trade figures published by China and India is due to different statistical measures,” he said.

China follows the fiscal year from January to December, while India calculates the same from April to March each year.

At the same time, Zhao said: “China does not oppose the development of normal trade relations between India and the United States and is not very interested in changes in the order of trade volumes”, belittles the United States, which is rapidly improving its relations with India through strategic links such as Quad, (US, India, Japan, Australia) the alliance that frees it from the top slot.

China has long been India’s dominant trading partner, despite widespread concerns about the current account deficit each year.

Zhao declined to comment on trade barriers and other restrictions cited by Indian companies, saying the information should be obtained from the Chinese Ministry of Commerce.

For many years, India has been demanding that China open up its markets to IT and pharmaceutical companies, India’s main export strengths, but Beijing has yet to commit.

The trade deficit with China increased to $ 72.91 billion in 2021-2022 from $ 44 billion in the previous fiscal year, according to Indian figures, while the United States is one of the few countries in which India had a trade surplus of $ 32.8 billion last year. .

According to Indian data, China was India’s main trading partner from 2013-14 to 2017-18 and also 2020-21. For China, the UAE was the country’s largest trading partner.

“What matters to us is whether the Indian side has the will and action to take action to create a fair, transparent, sustainable and healthy environment for bilateral trade and investment, further enhance mutual co-operation and deliver tangible benefits to two countries and two nations, “said Zhao.

Asked whether the Ladakh situation, which has overshadowed bilateral relations for more than two years, is also affecting trade relations between the two countries, he said: “At present, the situation at the border is generally stable. communication through diplomatic and military channels. ”

On Tuesday, senior diplomats from the two countries exchanged views on the current state of affairs along the LAC in the western part of Ladakh.

Both sides also agreed to hold the next (16th) round of the General Staff meeting early to achieve the goal of complete separation from all friction points along the LAC in the Western sector in accordance with existing bilateral agreements and protocols.

Zhao reiterated China’s repeated statement that Beijing believed that the border issue was not all relations between India and China.

“China always believes that the border issue does not represent all China-India relations and we should put it in an appropriate position in bilateral relations and under effective governance. We hope that India will work with China to build continuous mutual trust, strengthen practical cooperation and ensure that bilateral relations continue on the right path, bring greater benefits to the two nations and make a greater contribution to the region and beyond, “he said.

Indian media on Sunday said the United States had overtaken China and become India’s main trading partner in 2021-22, reflecting the strengthening of economic ties between the two countries.

According to the Indian Ministry of Commerce, in the years 2021-22, bilateral trade between the United States and India amounted to 119.42 billion dollars against 80.51 billion dollars in 2020-21.

In the years 2021-22, India’s bilateral trade with China amounted to 115.42 billion dollars, compared to 86.4 billion dollars 2020-21, the data showed. The trade surplus increased to USD 72.91 billion in the years 2021-22 from USD 44 billion in the previous financial year.

Business analysts believe that the trend of expanding bilateral trade with the United States will continue in the coming years, also as New Delhi and Washington are further involved in strengthening economic ties.

When asked about reports of Indian investigations into alleged violations of the rules by Chinese phone makers ZTE and Vivo as well as Xiaomi, Zhao said: “The Chinese government is closely monitoring the situation.

“The Chinese government always asks Chinese companies to comply with laws and regulations when doing business abroad. In the meantime, we strongly support Chinese companies in protecting their legal rights and interests,” he said.

“The Indian side should operate in accordance with the law and rules and provide a fair, equitable and non-discriminatory business environment for Chinese companies operating in India,” he said.

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