The United States has become India’s largest trading partner, surpassing China.
In 2021-22, bilateral trade between the United States and India stood at 9 119.42 billion, up from 80 80.51 billion in 2020-21.
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| US & India |
New Delhi: The United States has surpassed China to become India’s largest trading partner in 2021-22, reflecting the strong economic ties between the two countries.
In 2021-22, bilateral trade between the United States and India stood at 11 119.42 billion, up from .5 80.51 billion in 2020-21, according to Commerce Department data.
Exports to the United States increased from 51 51.62 billion in the previous fiscal year to. 76.11 billion in 2021-22, while imports increased to 43 43.31 billion in 2020-21 from about Ù‹ 29 billion.
During 2021-22, India’s bilateral trade with China totaled 11 115.42 billion, compared to 86 86.4 billion in 2020-21, the data shows.
Exports to China increased marginally from 21 21.18 billion in 2020-21 to 21 21.25 billion in the previous fiscal year, while imports increased to 94 94.16 billion in 2020-21 from about .2 65.21 billion. The trade gap widened to 72 72.91 billion in 2021-22 from 44 44 billion in the previous fiscal year.
Trade experts believe that the trend of increasing bilateral trade with the United States will continue in the coming years as New Delhi and Washington are busy strengthening economic ties.
Khalid Khan, Vice President, Federation of Indian Export Organization, said that India is emerging as a reliable trading partner and global firms are reducing their dependence on China only for their supply and diversifying business in other countries like India.
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