Indian exports to China surged by 75 per cent in the first quarter this year, with a big increase in textiles and stones and precious metals shipments, bringing down the trade deficit.
Overall trade with China grew by about 66 per cent during the period, raising hopes of achieving the trade target of $60 billion this year, according to data released by the Chinese government today.
The trade figures released by the Chinese customs brought blushes back on the faces of Indian diplomats and trade officials here as Indian exports, which declined radically last year and resulted in a $16 billion dollar trade deficit, have shown significant improvement.
According to the trade data, Indian exports to China touched $5.81 billion in the period between January and March this year, as against $3.31 billion last year when overall trade volumes declined to about $44 billion due to the global economic downturn. The increase was stated to be 75 per cent.
