Trade Deficit Highlights Meeting Between Goyal and Chinese Minister

India-China Trade Talks Highlight Rising Trade Deficit​

New Delhi, March 27 – Commerce and Industry Minister Piyush Goyal met his Chinese counterpart Wang Wentaoon Friday to discuss trade-related issues, amid a widening trade deficit between the two countries. The meeting took place on the sidelines of the 14th WTO Ministerial Conference (MC14) in Yaounde, Cameroon.

Key Highlights​

• Bilateral Trade Discussion:
  Goyal exchanged views with Wang Wentao on the MC-14 agenda and discussed measures to improve India-China trade relations.
• Rising Trade Deficit:
  
  • India’s trade deficit with China has crossed USD 100 billion for the first 11 months of the fiscal year.
  • Exports to China grew 37.66% to USD 17.54 billion.
  • Imports from China rose 15.21% to USD 119.55 billion.
  • The trade deficit widened to USD 102.01 billion, up from USD 91.03 billion in the previous year’s April–February period.
• Strategic Context:
  The talks come amid ongoing global trade negotiations at the WTO and focus on balancing bilateral trade while addressing supply chain and market access challenges.

Goyal’s engagement with Wang underscores India’s efforts to address its trade imbalance with China while advancing its position in multilateral trade forums.