India's Rising Dependency on Chinese Industrial Goods: Economic and Security Implications
| Category | Details |
|---|---|
| Trade Deficit | India's trade deficit with China: >$387 billion over the last five years. |
| Exports to China: $16 billion annually (stagnant). | |
| Imports from China: >$101 billion in 2023-24. | |
| Import Dependency | China's share in India's imports: 30% (up from 21% 15 years ago). |
| China's exports to India grew 2.3 times faster than India's total imports. | |
| Key Sectors | Electronics, telecom, machinery, chemicals, pharmaceuticals, iron, steel, base metals, plastics, textiles, automobiles, medical equipment, leather, paper, glass, ships, and aircraft. |
| Sectoral Import Trends | Electronics, telecom, electrical products: 38.4% from China. |
| Machinery: 39.6% from China. | |
| Chemicals and pharmaceuticals: 29.2% from China. | |
| Plastics and related articles: 25.8% from China. | |
| Strategic Actions Needed | Focus on R&D in capital goods and machinery sectors. |
| Upgrade industries for intermediate goods like organic chemicals, APIs, and plastics. | |
| Explore domestic production potential, especially in MSME-dominated categories. |