India–China bilateral trade increased 18.3% to $151.1 billion in FY2025-26, making China India’s largest trading partner, Commerce and Industry Minister Piyush Goyal said in The Hague.
India’s exports to China rose 36.6% to $19.47 billion, while imports increased 16% to $131.63 billion. The trade deficit widened to a record $112.16 billion from $99.21 billion in the previous financial year.
India Seeks to Expand Exports
Goyal said India aims to become a major exporter to China and ASEAN markets.
He also addressed Chinese export restrictions on tunnel-boring machines, which could affect metro and railway projects. Goyal said India would work on the issue, welcome Chinese suppliers and use established legal processes to address unfair pricing.
World Bank Estimates Solar Funding Needs
Separately, the World Bank and the Global Off-Grid Solar Association estimated that $11.4 billion in investment over the next four years would be needed to expand reliable off-grid solar access.
Approximately 398 million people without electricity could benefit. The funding requirement includes around $1.3 billion annually in grants and subsidies, alongside $1.6 billion annually through equity, debt and accounts receivable financing.
The report also estimated that the broader energy transition would require $3 trillion to $5 trillion in annual investment by 2030.
Q1. How much was India–China bilateral trade in FY2025-26?
It reached $151.1 billion, an increase of 18.3%.
Q2. How large was India’s trade deficit with China?
The deficit reached a record $112.16 billion.
Q3. How much did India export to China?
India’s exports reached $19.47 billion in FY2025-26.
Q4. How much investment is needed for off-grid solar access?
The World Bank and GOGLA estimated $11.4 billion over the next four years.
