Q. Consider the following statements with regard to India - China Trade Relations:
Which of the statements given above are correct?
Q. Consider the following statements with regard to India - China Trade Relations:
Which of the statements given above are correct?
The correct option is C
1 and 3 only
Explanation:
Statement 1 is correct: India’s trade deficit with China decreased to USD 48.66 billion in 2019-20. Exports to China in the last financial year stood at USD 16.6 billion, while imports aggregated at USD 65.26 billion. The Government of India is taking several steps like - imposing anti-dumping duties, strict regulations and quality norms to address the issue of large trade deficit between the two countries.
Statement 2 is incorrect: India has no Free Trade Agreement with China.
Statement 3 is correct: China is a major supplier of electronic goods, steel and APIs(Active Pharmaceutical Ingredients) to India. These items account for the majority of imports from China.
1 and 3 only
Explanation:
Statement 1 is correct: India’s trade deficit with China decreased to USD 48.66 billion in 2019-20. Exports to China in the last financial year stood at USD 16.6 billion, while imports aggregated at USD 65.26 billion. The Government of India is taking several steps like - imposing anti-dumping duties, strict regulations and quality norms to address the issue of large trade deficit between the two countries.
Statement 2 is incorrect: India has no Free Trade Agreement with China.
Statement 3 is correct: China is a major supplier of electronic goods, steel and APIs(Active Pharmaceutical Ingredients) to India. These items account for the majority of imports from China.
