♤ In this context involving Bangladesh, which is also a co-riparian can be considered to

strengthen India’s position.

1.7. Trade and Economy

♤ Rapid Growth: Trade volume between the two countries in the beginning of the century, year 2000, stood at US$ 3 billion. In 2008, bilateral trade reached US$ 51.8 billion with China replacing the United States as India’s largest “Goods trading partner.” In 2011 bilateral trade reached an all-time high of US$ 73.9 billion.

♤ According to recently released data by Chinese Customs, India-China trade in 2016 decreased by 0.67% year-on-year to US$ 71.18 billion. India’s exports to China decreased by 12.29% year-on-year to US$ 11.748 billion while India’s imports from China saw a year-on- year growth of 2.01% to US$ 59.428 billion.

♤ The Indian trade deficit with China is a matter of concern. It stood at $51.08 billion in 2016- 17 and $52.69 billion in 2015-16. India is discussing the issue of allowing greater access to Indian products and services in the Chinese market with its neighbour.

♤ In 2016, India was the 7th largest export destination for Chinese products, and the 27th largest exporter to China.

♤ India-China trade in the first eight months of 2017 increased by 18.34% year-on-year to US$ 55.11 billion. India’s exports to China increased by 40.69% year-on-year to US$ 10.60 billion while India’s imports from China saw a year-on-year growth of 14.02 % to US$ 44.50 billion.