May 30, 2024

China has overtaken the US as India’s largest trading partner with a bilateral trade of $118.4 billion, as per the data from the economic think tank Global Trade Research Initiative (GTRI) 2024.

  • With China India’s exports rose by 8.7 percent to $16.67 billion, while imports increased by 3.24 percent to $101.7 billion.
  • The bilateral trade between India and the US stood at $118.3 billion in 2023-24.
  • In 2023-24, the UAE with USD 83.6 billion was the third largest trading partner of India. It was followed by Russia ($65.7 billion), Saudi Arabia ($43.4 billion), and Singapore ($35.6 billion).
  • China was India’s top trading partner from 2013-14 till 2017-18 and also in 2020-21.
  • US was the largest partner in 2021-22 and 2022-23.

 

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