Surge in exports to China not indicative of broadbased growth: Report

India’s exports to China jumped nearly 90% in November 2025, but the surge is far from a sign of broadbased growth, according to a new report by GTRI. As per the report, the spike is concentrated in a few key products, while India’s dependence on Chinese imports remains deeply entrenched.  Exports to China rose to $2.2 billion in November, marking a 90% increase from the same month last year. From April to November, shipments climbed 33% to $12.2 billion from $9.2 billion in the previous year. Naphtha, used as a petrochemical feedstock, was the biggest contributor, with exports up 512% in October and 172% over April-October to $1.4 billion. Electronics also saw sharp but highly selective gains. Printed circuit board exports soared to $296.5 million in October, an 8,577% year-on-year jump, while shipments from April to October rose over 2,000% to $418 million. Mobile phone component exports grew 82% to $362 million—an unusual trend, given India imports large quantities of these items from China, as per the report.

 

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