India-China trade hits a record $84.4 billion

India-China trade hits a record $84.4 billion

Context:

• The India-China bilateral trade has reached $84.44 billion last year.

Rise in bilateral trade:

• The bilateral trade in 2017 rose by 18.63% year-on-year to reach $84.44 billion.
• The volume of bilateral trade for the first time touched $80 billion above the $71.18 billion registered last year.

Prevailing issues:

• Trade touched a historic high despite bilateral tensions over a number of issues.
• Including the China-Pakistan Economic Corridor.
• China blocking India’s efforts to bring about a UN ban on J-e-M leader Masood Azhar.
• Beijing blocking India’s entry into the Nuclear Suppliers Group as well as the Doklam standoff.
• Trade had stagnated around $70 billion, despite the leaders of both nations setting a $100 billion target for 2015.