China still remains the largest source of critical imports for India, from mobile phone components to pharmaceutical ingredients, and India is working on a multi-pronged strategy to reduce this reliance, which is a bigger concern than the imbalance in trade.
“The trade deficit is not in dollars, it is in overdependence,” said Sanjay Chadha, Additional Secretary in the Ministry of Commerce and Industry, speaking at the All India Conference of China Studies (AICCS), organised by the Institute of Chinese Studies (ICS) Delhi and Indian Institute of Technology Madras (IIT-M).
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