US surpasses China to become India’s top trading partner
Bilateral trade stood at nearly 88 billion dollars in 2018-19 fiscal
By PTI
The United States has surpassed China to become India’s top trading partner. According to the Commerce Ministry data, the bilateral trade between the US and India stood at nearly 88 billion dollars in 2018-19 fiscal. During the 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 stood at 68 billion dollars against a nearly 65 billion dollars trade with China in the same period.
America 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 has a trade surplus of 16.9 billion dollars with America, while it has a deficit of 53.6 billion dollars with the neighbouring country. The data showed that China was India’s top trading partner since 2013-14 till 2017-18.
