With an aim to track export and import trends and propose corrective measures wherever necessary, Minister of State for Commerce and Industry Jitin Prasada has said that an Inter-Ministerial Committee has been constituted by the government, in which members are from various key trade-related departments such as the Department of Commerce, Department of Revenue, Department for Promotion of Industry and Internal Trade, Directorate General of Foreign Trade and Directorate General of Commercial Intelligence and Statistics.
The minister said India's trade deficit with China increased by 10.1 per cent to $63.97 billion in April-October 2025 as compared to $58.09 billion in April-October 2024, mainly due to imports of raw materials, intermediate goods and capital goods, like auto components, electronic parts and assemblies, mobile phone parts, machinery and its parts, Active Pharmaceutical Ingredients, which are used for making finished products which are also exported out of India. India's export to China has also grew by 24.7 per cent to $10.02 billion in April-October, 2025 as compared to $8.04 billion in April-October.
He said India's trade deficit remains comfortably manageable when viewed against the country's substantial foreign exchange reserves. Moreover, he said India is currently the world's fastest-growing major economy and that growth pattern naturally affects its trade dynamics. India's rapid economic growth is pushing up import demand as faster growth increases the need for machinery, electronics, industrial inputs and energy. As a result, he said, strong domestic demand, investment-led expansion, and heavy energy dependence combine to make higher growth translate into higher imports, for sustaining manufacturing expansion and India's integration into global value chains.
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