China is back as India’s top trading partner


 

Helllooo People,

How are you doin.’?

Well, today we have something interesting to talk about after a bloody border conflict in which India lost many soldiers and as a retaliatory action they banned numerous Chinese apps citing security reasons.

Months after this news breakout, China has reclaimed its top spot displacing the US!!!

You heard it right, According to the commercial ministry data “Two-way trade between the longstanding economic and strategic rivals stood at $77.7 billion last year”

And as I would like to quote one graph here from Bloomberg


You can see how China has regained the spot
Well, now the question arises here “ If that was all then why did the government showed resistance to Chinese apps and slowed down several projects in disdain”?

So now as you know a country can’t become self-reliant in one year rather it is a collaborative the effort which drives “self reliancy” but China is a top exporter and world is highly dependent on it due to the sophisticated resources it holds.

Meanwhile, India’s trade deficit with Beijing stood at $40 billion in 2020 and to no avail due to the factor that India depends highly on imported technologies and for key raw materials, it became obvious to understand they reclaimed the spot.

Maybe the “Atmanirbhar Push” has not been so successful to the extent it should have been and a increase in the prices of indigenously produced goods added cherry on the cake.

The inflow of high quality electronics with affordability is what Indians love to have the most due to which Chinese companies like Xiaomi, Realme etc have been able to lead the market even during the heated anti china sentiments.

Well, what is coming up next…….no one knows

We” ll have to wait and watch how things turn up in the future!!!

Please write down your comments to let us know what you feel

Until Then,

Keep Safe and Keep Happy

♥♥♥♥♥


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