Trade gap with China set to narrow this year: Explained in charts

China lost the top position as India’s biggest trade partner to the US by a slim margin in 2018-19. Yet, it remains the biggest import source for India. Imports from the northern neighbour have been on the wane since 2017-18 when it had peaked to $76 bn. 

In 2018-19, it came down to $70 bn. Until February of 2019-20, imports stood at $62.37 bn and for the entire financial year, it is expected to be less the previous year. India, meanwhile, seeks to boost exports to China.