India’s imports from China dropped by 5.42 per cent in November 2022 over the same month of the previous year, shows the latest trade data available from the Department of Commerce. The data shows India’s imports from the neighbouring country declined to $7.65 billion in November 2022 as compared to $8.08 billion in the same month of 2021. The key items seeing a decline in imports are—personal computers (laptops, palmtops etc.), urea, and diammonium phosphate. This is for the second consecutive time during the current financial year that the imports from the neighbouring country have recorded a decline. In October 2022, India’s imports from China had dropped by 9.73 per cent to $7.85 billion from $8.70 billion during the same month a year ago. The decline in imports from China during the last two months contrasts with the increase in India’s total imports during this period. In November 2022, India’s total imports increased by 9.80 per cent to $58.23 billion from $53.02 billion in the same month a year ago. In October 2022, India’s total import had recorded a double-digit increase of 10.02 per cent to $59.01 billion from $53.64 billion a year ago. Despite a drop in the two consecutive months, India’s imports from China in the first eight months of the financial year 2022-23, are still 14.78 per cent higher ($67.92 billion during April-November, 2022) while compared to the figure of $59.17 billion in the same period of the previous fiscal. The decline in imports from China comes at a time when the neighbouring country saw a spike in Covid-19 cases and strict restrictions to contain the spread of infection in recent months. The decline is significant as the monthly imports from the neighbouring country have hit a record high during the current financial year. In July 2022, India’s monthly imports from China had crossed the $10 billion mark. India’s imports from the neighbouring country had jumped to a record high in the following months of the Galwan clash in June 2020, in which 20 Indian soldiers were killed.
