US trumps China as India’s top trading partner
New Delhi, May 29
The US has surpassed China to become India’s top trading partner in 2021-22, according to the data of the Commerce Ministry. In 2021-22, bilateral trade with the US was at $119.42 billion while that with China was $115.42 billion.
In 2021-22, exports to the US increased to $76.11 billion from $51.62 billion in the previous fiscal. In contrast, exports to China were at $21.25 billion from $21.18 billion in 2020-21.
Imports from the US also rose to $43.31 billion as compared to about $29 billion in 2020-21. But imports from China jumped much more sharply to $94.16 billion from $65.21 billion in 2020-21.
China occupied the top slot as India’s trading partner from 2013-14 till 2017-18 and also in 2020-21. The third spot in 2021-22 was occupied by the UAE with total trade of $72.9 billion, followed by Saudi Arabia ($42.85 billion), Iraq ($34.33 billion) and Singapore ($30 billion).
