managed to bring down its trade deficit with China by $10 billion to $53
billion in 2018-19 year on year, thanks to efforts by New Delhi to get greater
market access to the latter's markets and take benefit out of the current
Washington-Beijing trade war.
Trade deficit occurs when the import of a country
exceeds its export.
Sources said India's exports to China rose to $17
billion during the year from $13 billion during 2017-18, while imports declined
to $70 billion from $76 billion.
India is the seventh largest export destination of
China, while China is the fourth largest export destination of India. On the
other hand, China is the top import source for India, while the latter is the
25th largest import source for China.