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Question

Q. Consider the following statements with reference to India-China bilateral trade.

Select the correct answer using the code given below:


A
1 only
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B
2 only
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C
Both 1 and 2
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D
Neither 1 nor 2
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Solution

The correct option is A 1 only

Explanation:

Statement 1 is correct: According to the Ministry of Commerce and Industry, the trade between India and China from January to December 2020 stood at 77.67billionincomparisonwith75.95 billion traded between India and the US during the same time. Hence, China was India’s largest trading partner in 2020.

Statement 2 is incorrect: India's trade deficit with China has declined from USD 53.57 billion in 2018-19 to USD 44.02 billion in 2020-21. Hence the trade deficit has not increased consistently in the last five years. The following figure illustrates the same.


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