<h1>Bilateral merchandise trade: India's exports to China up $5.5B while Chinese exports surge, record $116.12B Indian trade deficit</h1> Annual bilateral trade data disclosed that (1) Indian exports to China increased by USD 5.5 billion (to USD 19.75 billion), reflecting a 9.7% year-on-year rise; operative effect: this increment signals improved Indian market access for specific commodities (oil meals, marine products, telecom instruments, spices) into China. (2) Chinese exports to India rose 12.8% to USD 135.87 billion, producing a record bilateral trade volume of USD 155.62 billion and a record Indian trade deficit of USD 116.12 billion; operative effect: the enlarged deficit formally documents a widening imbalance in bilateral merchandise trade for 2025.