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India has trade deficit with 81 countries

December 11, 2013 19:37 IST

India has trade deficit with as many as 81 countries including China, Qatar, Korea, Japan and Indonesia in 2012-13, Parliament was informed on Wednesday.

Replying to a question in the Rajya Sabha, Minister of State for Commerce and Industry E M Sudarsana Natchiappan said that India's total trade deficit stood at $191.3 billion in 2012-13.

"India has trade deficit with 81 countries in 2012-13. Top 10 countries with which India's trade deficit has widened are China, Kuwait, Qatar, Venezuela, Indonesia, Korea, Angola, Japan, Belgium, UAE and Mexico," he said.

Trade deficit happens when a country's imports exceeds its exports. He informed that the government is taking steps to reduce the deficit and that include imposing restrictions on gold imports.

In a reply to another question, he said that during 2012-13, trade deficit with China Stood at $38.66 billion. During April-October 2013-14, exports to China was $7.22 billion and imports were $30.51 billion.

"With a view to reducing trade deficit with China, efforts are being made to diversify the trade basket with emphasis on manufactured goods.

"We are also pursuing market access issues to tackle non-tariff barriers in the Chinese market at different fora," he added.

He said that Indian exporters are encouraged to participate in major trade fairs in China to showcase products in the Chinese market and increase engagement with Chinese companies.

He also said that the commerce ministry has initiated anti-dumping investigations into 295 cases as on date involving various countries since 1992. "Out of these, 161 cases involve imports from China," he said. 

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