News Karnataka
Sunday, April 14 2024
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India

Growing Discrepancy in India-China Trade Data Raises Concerns

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The disparity in trade data between India and China continues to widen, raising concerns about discrepancies and potential trade practices. What began as a $15 billion gap in 2022 has now expanded by 17-21 percent, with the difference in total trade figures reaching $17.594 billion for the period between April 2023 and January 2024.

The discrepancy between figures provided by India’s commerce ministry and China’s General Administration of Customs (GACC) has prompted scrutiny. While India reported total bilateral trade of $99.389 billion, China’s figures showed $116.983 billion for the same period. Over the past three years, Indian data has consistently hovered around $95 billion, while Chinese figures have remained consistently above $110 billion.

The Indian government has acknowledged these discrepancies, with the Directorate General of Commercial Intelligence and Statistics (DGCIS) conducting a preliminary review analysis. The report highlighted concerns about “underreporting” and “unfair cross-border trade practices,” particularly in commodities like electrical and electronic equipment.

Specific commodity groups, such as electrical and electronic equipment and nuclear reactors, boilers, and machinery, showed significant discrepancies, prompting further investigation. The report emphasized the need to ensure fair trade practices and reduce data discrepancies.

While some commodity groups showed no data variation, others exhibited substantial gaps, underscoring the need for detailed introspection. The methodology excluded certain goods categories where discrepancies were observed, highlighting areas of concern.

Overall, the widening gap in trade data underscores the importance of addressing issues related to transparency and fair trade practices between India and China.

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