Two years ago, the United States slightly surpassed China with a share of 11.3%, becoming Indias largest trading partner. However, China still accounts for 10.6% of Indias total trade volume. Combined with Hong Kongs share, China is still Indias largest trading partner.
On the other hand, India accounts for only 2.1% of Chinas total foreign trade. According to 2018 data, India ranked 12th, while the United States topped the list with 13.7%. As a result, the trade war has done much more harm to India than to China. According to the data of the United Nations Conference on Trade and development (UNCTAD) in 2018, boycott of made in China may have a great impact on Indias trade. 15.3% of Indias imports come from China, and only 5.1% of Indias exports flow to China.
In addition, as the factory of the world, China is one of the largest trading partners of most countries. India accounts for only a small share of its imports and exports, so the boycott will not hurt China too much.
Chinas investment in India has been growing steadily over the past 20 years. According to a report from India, the number of Chinese companies investing in India increased from 21 in 2010 to 48 in 2019. Chinas telecom industry, in particular, has a huge influence in India. Huawei and Xiaomi currently operate the largest number of projects in India, both of which are 13. ZTE also has several projects in progress.
The huge contrast is also reflected in the number of mutual visits between the two countries. In 1999, about 80000 Indians visited China, and now this number has increased tenfold, reaching 800000 in 2016. In 2017, only 250000 Chinese visited India. Although the number of Chinese visitors is still increasing steadily, there is still a big gap between the two.