New Delhi, Dec. 19 -- India's trade deficit with China is projected to hit USD 106 billion in 2025, as imports continue to outpace exports, according to a report by the Global Trade Research Initiative (GTRI) released Friday (December 19, 2025).

India's exports to China have remained relatively stagnant over recent years. They fell from USD 23 billion in 2021 to USD 15.2 billion in 2022, dipped slightly to USD 14.5 billion in 2023, and rose marginally to USD 15.1 billion in 2024. For 2025, exports are estimated at USD 17.5 billion, still below levels seen in 2021.

In contrast, imports from China have risen sharply, climbing from USD 87.7 billion in 2021 to USD 102.6 billion in 2022, USD 91.8 billion in 2023, and USD 109.6 billion in 202...