When it comes to foreign trade data, it has been revealed that import-export data between two countries often closes in one country facing the trade deficit. By definition, the trade deficit is acknowledged as the gap between the real-time value of total import and total export. Meaning, the country which has imported more and exported less to another country remains at a shortfall. In the financial year 2020-21, India has recovered from the deficit situation at an excellent pace. 

Latest India import-export data manifests that India primarily exports organic chemicals, cotton, granite stone, and iron ores to China. However, India imports machinery, smartphones, pharma products or raw material, fertilizers, and textiles from China at a far greater level. Thus, for the past few years, India has been facing a trade deficit for a long time. According to Cybex Exim Solution data, the India-China trade deficit in 2019 was $13 Billion approximately. However, in the current FY, this trade deficit has been declined to $5.8 Billion. Various Indian news sources described this change in India export data as the positive impact of Atma Nirbhar Bharat Abhiyaan (i.e.., Self-Reliant India Movement) launched by Mr. Narendra Modi, the Prime Minister of India. 

During the critical circumstances of COVID-19 widespread in India, the Prime Minister motivated the businessmen, farmers, corporate employees, and other country citizens to become self-reliant. Surprisingly, it became a game-changer for the country. Indeed, Indian twitteratis also promoted this movement by banning Chinese products such as mobile phones, smart and digital TV(s), and mobile applications. 

On the other hand, China Import data disclosed some suspicious variations in its foreign trade relationship with India. According to Cybex's data, China has boosted the import of iron and steel from India up to 833%. Meaning, iron, and steel exported to China from India valued at $1.8 Billion. However, in 2019-20, it was only $192 Million. 

According to one of the studies/statements by Biswajit Dhar, there are two prominent reasons why China is trying to fix-up import-export relations with India. One is, China predicts persistent growth of the Indian Economy during the CoronaVirus Pandemic. In contrast, other countries are constantly suffering. Another reason being, China is facing a trade-war situation with countries like the U.S.A and U.K. Therefore, some countries are intentionally contradicting themselves to export anything to China in a large mass. 

With import-export relationship growth between India and China, India can face enraged countries. However, one thing is sure: India took a greater turn on the self-reliant India Movement.