In the era of Trump Tariff, some such proof of the friendship of America and India has come out. Due to which the neighboring country of China has become upset. Also, powerful countries like Europe and Russia have also been surprised. There is also a reason for that. Russia is one of the old friends of India and India is engaged in strengthening its relations with Europe. After that the kind of friendship between India and America was never seen with these countries before today. Or simply say that this kind of friendship has shifted a little more like America.
In fact, this friendship is related to trading. The fourth consecutive year has been seen that America remains the biggest trading partner for India. The special thing is that India’s trade is not a loss but a plus with America. This means that India US imports less and more exports. At the same time, imports more than China reduces more exports. Even after that, China is not the largest trading partner in India. Let us also tell you what kind of data the government has presented with trading or saying that imports and exports.
Dragon at number two
According to government data, the US will remain India’s largest trading partner for the fourth consecutive year 2024-25, which stood at US $ 131.84 billion, while during the same period the country’s trade deficit with China increased to US $ 99.2 billion. In the last financial year, India’s exports to China declined by 14.5 per cent to US $ 14.25 billion, as compared to US $ 16.66 billion in 2023-24. However, the import increased by 11.52 per cent to US $ 113.45 billion in 2024-25, as compared to US $ 101.73 billion in 2023-24. In the last financial year, the trade deficit with China has increased by about 17 percent to US $ 99.2 billion, which was US $ 85.07 billion in 2023-24. China will remain India’s second largest trading partner in 2024-25 with a two-way trade of US $ 127.7 billion, while in 2023-24 it was US $ 118.4 billion.
America is the biggest trading partner
- According to Commerce Ministry data, China was the top trading partner in India from 2013-14 to 2017-18 and also in 2020-21.
- Prior to China, the United Arab Emirates was the largest trading partner in the country. America has been the largest trading partner since 2021-22.
- During the last financial year, UAE was India’s third largest trading partner with US $ 100.5 billion.
- In the last financial year, India’s exports to the US increased by 11.6 percent to US $ 86.51 billion, compared to US $ 77.52 billion in 2023-24.
- In 2024-25, the import increased by 7.44 percent to US $ 45.33 billion, compared to US $ 42.2 billion in 2023-24.
- In the last financial year, the trade surplus with the US has increased from US $ 35.32 billion to US $ 41.18 billion in 2023-24.
India exports and imports with America
In 2024, America’s main exports to the US in drug manufacturing and organic (US $ 8.1 billion), telecommunications equipment (US $ 6.5 billion), precious and semi-precious stone (5.3 billion US dollars), petroleum products (US $ 4.1 billion), gold and other precious metal jewelery ($ 3.2 billion), Cottoned Foreign Cover (2.2 billion US dollars), and lamps (2.8 billion US dollars) and Steel products (US $ 2.7 billion) are included.
Import included crude oil (US $ 4.5 billion), petroleum products (US $ 3.6 billion), coal, coke (US $ 3.4 billion), cut and polished diamonds (US $ 2.6 billion), electric machinery ($ 1.4 billion), aircraft, spacecraft and parts (US $ 1.3 billion) and gold ($ 1.3 billion). In the coming years, bilateral trade between India and the United States is expected to fast as the two countries are talking on a trade agreement. It aims to increase two-way commerce in goods and services by 2030 to increase the current $ 500 billion from US $ 191 billion to US $ 500 billion.