Story perspectives

India’s China Imports Surge 22% to $79 B, Deficit Swells

7/15/2026

Summary

Story summary

India’s imports from China hit a record $79.41 billion in H1 2026, up 21.8% YoY.
The trade deficit rose to $15.3 billion in June 2026.
Commerce Secretary Rajesh Agrawal said petroleum, gold and electronics demand drove the surge.
Ambassador Vikram Doraiswami urged Indian pharma exports to China.
Chief Economist Upasna Bhardwaj warned price volatility could pressure the current-account deficit, while Reserve Bank of India (RBI)’s measures aim to cushion balance-of-payments risks.

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Story summary

India’s imports from China hit a record $79.41 billion in H1 2026, up 21.8% YoY.
The trade deficit rose to $15.3 billion in June 2026.
Commerce Secretary Rajesh Agrawal said petroleum, gold and electronics demand drove the surge.
Ambassador Vikram Doraiswami urged Indian pharma exports to China.
Chief Economist Upasna Bhardwaj warned price volatility could pressure the current-account deficit, while Reserve Bank of India (RBI)’s measures aim to cushion balance-of-payments risks.