Indian exports to China grew by 28.73% to Rs 25,613.23 crore in the first six months of 2010-11 financial year, exporters body FIEO said today.
The shipments to the neighbouring country totalled at Rs 19,896.09 crore in the same period last year.
"The changes in China's social security norms have made the Chinese product costlier and less competitive in the domestic market, as the company has to bear the social cost of each labourer. Earlier, the labourers social cost was borne by the government," FIEO said.
India's total exports, according to the Commerce Ministry data, increased by 23.38% to Rs 4,85,206.77 crore in April-September 2010 on yearly basis.
"China's one-child policy has lessened the workforce. Also, existing labourers are shifting to white collar jobs from labour intensive areas. As a result China has become an emerging market for India," FIEO Director General & CEO Ajay Sahai said.
Exports to the US too grew at a faster pace of 23.43% to Rs 53,942.97 crore during the period under the review.
The top five exporting destinations of India are the UAE, the US, China, Hong Kong and Singapore.
The UAE was India's largest export destination in the first half of the current fiscal. The exports totalled at Rs 65,711.07 crore.
Singapore stood at the fourth rank with exports growing by 21.37% during the period under review. Shipments to Hong Kong expanded by 22.08 per cent to Rs 22,034.84 crore in April-September 2010.
