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US surpasses China as India's biggest trading partner

25
Feb '20
Pic: Shutterstock
Pic: Shutterstock
The United States has surpassed China to become India's top trading partner, showing greater economic ties between the two countries, according to data from India’s commerce ministry, which said the bilateral trade between both sides in fiscal 2018-19 stood at $87.95 billion. During the period, India's two-way commerce with China aggregated at $87.07 billion.

Similarly, during the April-December period of fiscal 2019-20, bilateral trade between the United States and India stood at $68 billion. It stood at $64.96 billion with China in the same period, a news agency reported.

The United States is one of the few countries with which India has a trade surplus. On the other hand, India has a huge trade deficit with China.

In 2018-19, India had a trade surplus of $16.85 billion with the United States, while it had a deficit of $53.56 billion with China. The data showed China was India's top trading partner since 2013-14 till 2017-18.

Before China, the United Arab Emirates was India’s largest trading nation.

Fibre2Fashion News Desk (DS)


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