India PM Narednra Modi with Chinese President XI Jinping/File
India PM Narednra Modi with Chinese President XI Jinping/File

India’s imports from China declined by 27.63 percent during April-August this fiscal to USD 21.58 billion over the same period previous year, Parliament was informed on Monday.

Value of imports from China stood at USD 4.98 billion in August and USD 5.58 in July, according to the data provided by Commerce and Industry Minister Piyush Goyal in his written reply to the Lok Sabha.

“India’s imports from China have declined by 27.63 percent during April-August, 2020-21 over the corresponding period of the previous year,” he said.

In a separate reply, the minister said there is no proposal under consideration on withdrawal of Most Favoured Nation (MFN) status to China.

“No such proposal is under consideration at this time,” he said while replying to a question whether the government is planning for the withdrawal of MFN status to China to reduce the export-import business with that country.

Later in a media briefing, the minister informed that the country’s export is reviving.

During the first half of September, exports have recorded a growth of 10 percent over the same period last year, he added.

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Free Press Journal