Though the government has been pushing for exports of high-value manufactured goods across major markets in place of raw materials and input goods, India’s top exports to China remain in the raw materials category. Even as shipments of high-value manufactured goods to China saw an uptick in the fiscal year 2019-20 (FY20), raw materials continue to dominate India’s top exports to the neighbouring country. Though the government has been pushing for exports of high-value manufactured goods across major markets in place of raw materials and input goods, India’s top exports to China remain in the raw materials category, shows the latest data released by the commerce department for FY20. Apart from organic chemicals and processed petroleum, most of the top shipments to China comprised raw materials, despite traditional export items such as raw plastic and cotton seeing a decline.Notably, shipments of iron ore shot up to $2.3 billion in FY20, up from $950 million in the previous financial year. However, at the same time, key sectors being pushed by India, such as medical devices and electrical equipment, continue to see slow but steady rise in exports to China. “Due to the sudden changes in the bilateral trade brought on by… Read full this story
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