Chinese imports forms over 10% of India's industrial GDP

Written by:
Subscribe to Oneindia News

New Delhi, Jan 13 (UNI) Chinese industrial goods imports, that comprised of mere 1.8 per cent of the country's industrial GDP in 2001-02, made deep inroads into the industrial sector and constituted over 10 per cent in 2006-07.

''Top items of import from China witnessed phenomenally higher growth rate than the growth of total import of these items by India from the world in the last six years,'' an industry study said.

A study on 'Rising Chinese Imports to India' conducted by industry body FICCI observed that not only the average growth rate has been very high, but the share of China has also increased significantly in our imports in the last six years.

The study pointed out thatimports of air conditioners from China grew by 120 per cent on an average since 2001-02, whereas its total imports from the world grew by just 39 per cent per annum. Imports of transmission apparatus witnessed 174 per cent growth in the last six years, while the total imports grew by less than half of it (74 per cent).

Imports of knitting machines from China grew by 143 per cent, while its total imports grew by 49 per cent only, the study said.

The study further noted that China occupies a share of more than 50 per cent in our imports of certain other commodities like electrical components, auto components, anti-biotics, tubes and pipes etc, Many commodities had been primarily imported from China but over the period India has become dependent on China for import of these commodities.

China's share in India's imports of raw silk, woven silk fabrics and coke has increased from 93.5 per cent, 85 per cent and 73 per cent in 2001-02 to 97 per cent, 95 per cent and 90 per cent respectively in 2006-07, the industry body said.

India's imports from China have increased by over eight and a half times since 2001-02 whereas India's imports from the world increased by three and a half times only between 2001-07, FICCI said. This has increased China's share in our imports from around 4 per cent in 2001-02 to 9.4 per cent in 2006-07.

However, our share in Chinese world imports continues to be insignificant at 1.3 per cent, FICCI observed.


Please Wait while comments are loading...