Key Points
The Chinese foreign ministryclaimedthat the bilateral goods trade with India was far higher than figures released by Indias commerce ministry...
At the time, in 2022, ThePrints analysis found that the disparity between the Chinese and Indian government data on the total trade between the two countries was roughly $15 billion...
For the period between April 2023 and January 2024, the difference in total trade figures stands at $17.594 billion, according to ThePrints analysis of data from the Indian commerce ministry versus Chinas General Administration of Customs (GACC)...
ThePrints analysis shows that over the past three years, the figure from the Indian commerce ministry for bilateral trade with China has hovered at around $95 billion..
Over-invoicing, wherein higher import figures has (sic) been reported by India vis--vis Chinas export figures, may need to be examined so as to ensure and put in effect the practice of trading of goods at recorded fair market price and subsequently reduce all unfair trade practices, arbitrage opportunities and any form of data discrepancy, it added...
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