3. During the period from 2018-19 to 2023-24, which relationship between India and China's trade is correct?
Select the correct option from the following:
Answer: Option C - India's imports from China grew at a faster rate compared to India's total imports, while India's exports to China stagnated.
Explanation:
- There is a significant increase in India's imports from China over 2018-19 to 2023-24, outpacing the growth rate of India's total imports.
- Meanwhile, India's exports to China remained stagnant despite some growth in specific commodity exports.
This disparity resulted in a widening trade deficit between the two countries
Answer: Option C - India's imports from China grew at a faster rate compared to India's total imports, while India's exports to China stagnated.
Explanation:
- There is a significant increase in India's imports from China over 2018-19 to 2023-24, outpacing the growth rate of India's total imports.
- Meanwhile, India's exports to China remained stagnant despite some growth in specific commodity exports.
This disparity resulted in a widening trade deficit between the two countries