$100 bn imports, $16 bn exports: Jaishankar says India's economic ties with China 'unfair'
During a speech at the Global Centre for Security Policy in Geneva, Jaishankar said that they believed that there has been a great deal of unfairness and imbalance in the economic relationship with China
prativad 
External Affairs Minister S Jaishankar has stated that India’s economic relationship with China has been unbalanced since Indian goods do not have the same market access in China as Chinese products enjoy in India, despite a widening trade imbalance with China.
This is in response to the fact that Chinese imports exceeded $100 billion in FY24 and are still growing in the current fiscal year. However, in the most recent fiscal year, India’s exports hardly made it above $16 billion. China’s imports have already topped $60 billion in the first seven months of 2024, up 10% from $55 billion in the same period the previous year.
During a speech at the Global Centre for Security Policy in Geneva, Jaishankar said that they believed that there has been a great deal of unfairness and imbalance in the economic relationship with China.
He also added that they don’t have the same market access that they have in India.
In 2022, the Economic Advisory Council to the Prime Minister (EAC-PM) released a working paper that emphasised the many non-tariff hurdles that Indian exporters encounter in China. These barriers restrict the market access for Indian exports, especially those pertaining to pharmaceutical and agricultural items. Any policies that obstruct international trade without including customs tariffs are referred to as non-tariff barriers.
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