CURRENT AFFAIRS

Detailed explanation-1: -The first India–China Strategic Economic Dialogue was held in Beijing on 26 September 2011.

Detailed explanation-2: -The U.S.-India Strategic Dialogue has been the primary forum to advance shared objectives in regional security, economic cooperation, defense, trade, and climate challenges since 2009.

Detailed explanation-3: -However, since the late 1980s, both countries have successfully rebuilt diplomatic and economic ties. Since 2008, China has been India’s largest trading partner and the two countries have also extended their strategic and military relations.

Detailed explanation-4: -How are India’s Trade Relations with China? One of the Biggest Partners: China is India’s second biggest trading partner after the US. In 2021-22, Indo-China bilateral trade was USD 115.83 billion-11.2% of India’s total merchandise trade of USD 1, 035 billion (Indo-US trade-11.54%).

Detailed explanation-5: -The total India-China trade for 2022 has climbed to 135.98 billion, overtaking the USD 125 billion mark a year earlier by registering a rise of 8.4 per, the annual Chinese customs data said. China’s exports to India climbed to USD 118.5 billion, a year-on-year increase of 21.7 per cent.