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China and India Seek Wider Trade Cooperation Despite Imbalances
China and India want to increase trade and economic cooperation.
Chinese officials said both countries should address each other’s concerns fairly.
India buys much more from China than it sells to China.
This creates a large trade deficit for India.
Many Chinese imports are important materials and machines used by Indian industries.
These include minerals for clean-energy technology and equipment for electronics and manufacturing.
The two countries are also discussing cooperation through the BRICS group.
They may work together on digital technology, skills, and trade in services.
China said it wants to expand mutually beneficial economic and trade cooperation with India.
Both sides discussed addressing economic and trade concerns in a balanced manner.
India recorded a $226.1 billion trade deficit with BRICS partners in 2025-26, including $112.16 billion with China.
India-China trade reached $91.72 billion during the first six months of the current fiscal year, with a $67.1 billion deficit.
India relies on Chinese imports including critical minerals, machinery, electronics, advanced technology, and industrial inputs.
- Who
- India’s Commerce and Industry Minister Piyush Goyal and China’s Minister of Commerce Wang Wentao, with positions also conveyed by the Chinese Embassy in India.
- What
- China and India discussed expanding economic and trade cooperation while addressing market-access concerns and trade imbalances.
- Where
- New Delhi, India, with broader cooperation discussed through BRICS.
- When
- The ministerial meeting occurred after Prime Minister Narendra Modi and President Xi Jinping met at the BRICS Summit 2026; trade figures cited cover 2025-26 and the first six months of the current fiscal year.
- Why
- China said wider cooperation could benefit enterprises and people in both countries, while India continues efforts to address market access and its substantial trade deficit.
China’s Cooperation Position
India’s Trade Concerns
Expanding bilateral trade
China’s Cooperation Position
China says it is ready to implement the leaders’ consensus and expand mutually beneficial economic and trade cooperation with India.
India’s Trade Concerns
India is seeking to increase bilateral trade while addressing market-access issues and the large deficit with China.
Managing economic concerns
China’s Cooperation Position
China supports properly addressing each country’s economic and trade concerns in a balanced manner.
India’s Trade Concerns
India’s trade figures show a substantial imbalance, with imports from China far exceeding Indian exports.
Role of industrial imports
China’s Cooperation Position
China supplies machinery, electronics, advanced technology, and other goods used by Indian industries.
India’s Trade Concerns
India’s government says import dependence reflects rapid economic growth and industrialisation, but the scale of imports remains a concern.
Key facts
- 2025-26 India-China trade deficit
- $112.16 billion
- India’s BRICS trade deficit, 2025-26
- $226.1 billion
- India-China trade in first six fiscal-year months
- $91.72 billion
- India-China deficit in first six fiscal-year months
- $67.1 billion
- Chinese imports into India in FY26
- $131.63 billion, nearly 17% of India’s merchandise imports
- BRICS share of India’s merchandise imports
- 41.5%
- BRICS share of India’s merchandise exports
- 21.7%
Quotes
Chinese Embassy spokesperson in India
Spokesperson for the Chinese Embassy in India commenting on bilateral economic relations
“properly address each other's economic and trade concerns in a balanced manner, and better benefit enterprises and people of both countries.”
CNBC TV 18
“China stands ready to work with India to implement the important consensus reached by the leaders of the two countries.”
CNBC TV 18
Sources
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