United States Surpasses China to Become India's top trading partner

United States Surpasses China to Become India’s top trading partner

United States Surpasses China to Become India’s top trading partner

  • According to the data by the Ministry of Commerce & Industry, United States has surpassed China to become India’s top trading partner.
  • The data showed that China was India’s top trading partner since 2013-14 till 2017-18.
  • But in 2018-19, the bilateral trade between the US and India stood at nearly 88 billion dollars, while during the same period, India’s trade with China was at 87.1 billion dollars.
  • Similarly, during April-December 2019-20, the bilateral trade between the US and India was 68 billion dollars against a nearly 65 billion dollars trade with China in the same period.
  • Also, in 2018-19, India has a trade surplus of 16.9 billion dollars with America, while it has a deficit of 53.6 billion dollars with China.

Leave a Comment

Your email address will not be published. Required fields are marked *