India's trade deficit with China doubled to $48.6 bn in FY20: Motilal Oswal

India's trade deficit with China more than doubled from 20 billion dollars in FY10 to 48.6 billion dollars in FY20, implying massive surge in dependence on Chinese products, Motilal Oswal Financial Services said on Thursday.

Following the border skirmishes between India and China, the recent narrative has sparked debate around India's boycott of Chinese products. Unless dependence is reduced, a cold shoulder by India may not be feasible, it said in a report.

Several sectors have material linkages with China, making it important to understand the sector-wise implications. Auto, consumer durables, pharmaceuticals, telecom, chemicals and renewable power sector (solar) seem