Highlights

  • USA became India's top trading partner in 2021-22
  • India-US trade stood at $119.42 billion versus India-China's $115.42 billion
  • India has trade surplus with US, but deficit with China

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USA beats China to become India's top trade partner, but Chinese imports rise even amid Ladakh tension

Amid tension between India and China over Beijing's military aggression in Ladakh, America seems to gaining.

Amid tension between India and China over Beijing's military aggression in Ladakh, America seems to gaining. The United States overtook China to become India's top trade partner in 2021-22.

In FY22, India and USA's bilateral trade stood at $119.42 billion compared to $115.42 billion between India and China.

India's exports to US rose to $76.11 billion in 2021-22 from $51.62 billion in 2020-21. At the same time, imports from US to India rose to $43.31 billion from $29 billion in 2020-21.

India's exports to China increased to $21.25 billion in 2021-22 from $21.18 billion in 2020-21. Imports from China to India rose to $94.16 billion from $65.21 billion in 2020-21.

The sharp rise in imports from China continues despite India's perceived push to move away following the Ladakh tension.

Also watch: On India trip, Bangladesh minister says this about China, amid criticism of Beijing over Sri Lanka crisis

India has a trade surplus with the US, but a trade deficit with China. This means that India exports more to the US than it imports, but vice versa with China.

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