Moneycontrol
Jul 06, 2017 09:07 AM IST | Source: Moneycontrol.com

'Hindi Chini Buy Buy' is why India-China border dispute needs to be resolved soon

If the tensions escalate and trade channels are disrupted, then both nations are likely to suffer significant monetary losses.

Moneycontrol News

The border tensions between India and China continued on Wednesday, with Beijing accusing New Delhi of "misleading the public" by saying that Chinese troops are building a road close to the Chicken's Neck in the Sikkim sector that could endanger India's access to the north-eastern states.

The Chinese media added fuel to the fire by saying that the Indian military will suffer "greater losses" than it did in the 1962 war if it incites border tensions.

The Chinese official media stepped up its attack on India with editorials asking Indian troops to move out of Dokalam area in Sikkim sector "with dignity or be kicked out" and describing the situation as "worryingly tense".

If the tensions escalate and trade channels are disrupted, then both nations are likely to suffer significant monetary losses.

India China-Business

The total bilateral trade between India and China stood at USD 71.18 billion for the past year and China remains the largest importer to India.

In 2016, imports from China stood at USD 59.43 billion, a 2 percent increase over the previous year, whereas exports to China saw a 12 percent year-on-year dip to USD 11.75 billion.

The top imports include electrical machinery and equipment, fertilisers and antibiotics.

The top exports are diamonds, cotton yarn, iron ore and copper.
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