New Delhi: The growing tension between India and China and the changing economic relations have also affected their bilateral trade. India's trade with mainland China and Hong Kong fell by 7 percent to $ 109.76 in FY 2019-20. This is the biggest decline in the last seven years. Prior to this, India-China trade had registered a big decline of 10.5 percent in the financial year 2012-13.

In the fiscal year 2018-19, India-China trade saw a growth of 3.2 percent, i.e. within a year, this trend completely reversed. Not only this, in the fiscal year 2017-18, there was also a huge jump of 22 percent in trade between India and China. This indicates that the way anti-China sentiment has increased in the country in the last one year, it has also affected business. Much trade with the mainland of China is also done through Hong Kong.

Imports from China fell to only $ 1.5 billion in FY 2019-20 due to other options for electronic items such as TVs, refrigerators, ACs, washing machines and mobile phones. Similarly, imports of fuel, mineral oil, pharma and chemicals have also declined.

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