India’s Biggest Trading Partner is the United States

By Snehal Singh , 23 May, 2023

India’s biggest trading partner on account of increasing economic ties in between two countries is the United States.

The United States emerged as the emerged as the biggest trading partner in 2022-2023. As per the reports, the provisional data of the commerce ministry the bilateral trade between the United States and India has been increased by 7.65 percent to $128.55 billion in 2022-2023. It was $119.5 billion in 2021-2022. And in 2020-2021, it was $80.51 billion.

In 2022-2023, exports to the US rose by 2.81 percent to $78.31 billion. It was $76.18 billion in 2021-2022. According to the reports, the imports grew by 16 percent to $50.24 billion. In 2022-2023, India’s commerce with China decreased by about 1.5 percent to $113.83 billion and $115.42 billion in 2021-2022. Exports to China fall by about 28 percent to $15.32 billion in 2022-2023. The imports also rose by 4.16 percent in $98.51 billion.

As believed by the experts, the trend of increasing bilateral trade with the United States will continue in the coming years as well, since both the countries are further engaged in strengthening the economic ties.  The president of Federation of Indian Export Organisations (FIEO) said, the increasing exports of goods like engineering, pharmaceutical and the jewelleries is helping India to push the shipments to America.