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China says, ready to advance normal trade with India

China says, ready to advance normal trade with India

  • China said it is ready to take measures to advance normal trade with India amid reports that the U.S. has replaced China as India’s biggest trading partner for the financial year 2021-22.
  • India’s trade deficit enlarged further with China due to COVID-19 pandemic, border stand-off and China’s “non-tariff trade barriers” on Indian products among other reasons. 
  • The Chinese foreign ministry insisted that China remains India’s largest trading partner in the calendar year 2021 with bilateral trade volume of over USD 125 billion.