China beats US to become India’s largest trading partner

17 May 2024 04:18 pm Views - {{hitsCtrl.values.hits}} 7

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May 17 - China has emerged as India's largest trading partner in the FY 2023-24 with $118.4 billion two-way commerce, narrowly edging past the US, according to the data of economic think tank GTRI. The bilateral trade between India and the US stood at $118.3 billion in 2023-24.

Washington was the top trading partner of New Delhi during 2021-22 and 2022-23, the Times of India reported

According to the report, India's exports to China rose by 8.7 per cent to $16.67 billion in the last fiscal. The main sectors which recorded healthy growth in exports to that country include iron ore, cotton yarn/fabrics/madeups, handloom, spices, fruits and vegetables, plastic and linoleum.

Imports from the neighbouring country increased by 3.24 per cent to $101.7 billion.

Comments - 7

Patcitz Friday, 17 May 2024 10:44 PM

China must focus on exporting to India than importing goods from India, which is a mean country to have trading-partnership with them.

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MR Saturday, 18 May 2024 08:53 AM

Yeah buy from Sri lanka. But Sri lanka will beg for money from India. Where India gets money? From air? Some Sri lankans are senseless .

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Minister Saturday, 18 May 2024 09:29 AM

Ok. Thanks for your advice.

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Kevin Saturday, 18 May 2024 05:09 AM

Both are BRICS members so it is expected. Both have shed the US dollar in their bilateral trade which has increased trade. Good for both. SL on the other hand is stuck in the middle.

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Jude Saturday, 18 May 2024 08:23 AM

Yankees are losing the grip!!

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Jude Saturday, 18 May 2024 08:30 AM

When Trump was president he ordered the think-tanks and experts to find ways to reduce the $375 Billion Trade deficit with China to reduce it to $200 Billion but everyone said it's Impossible, yeah!! The trade deficit stands at $382.3 billion in 2022.

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FredSnR Saturday, 18 May 2024 09:12 AM

If that's the case what is this Indo- China rivalry we are talking about and push for SL to tie up with India even the US has plenty of trade connections with China still. Is SL the pawn in this geopolitical game where the Big Powers don't lose, the pawns are sacrificed

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