US overtakes china in Trade with India..!?

The united states has now been India's largest trading partner overtaking China. Experts say this shows that trade relations between the two countries are strengthening. According to the Federal Ministry of Commerce, trade between india and the united states has grown from $ 80.51 billion in FY20-21 to $ 119.42 billion in FY21-22.
Exports to the united states have also increased. Exports increased from $ 51.62 billion in the previous fiscal to $ 76.11 billion and imports from $ 29 billion to $ 43.31 billion in the current fiscal.At the same time, trade with china increased from $ 86.4 billion in FY20-21 to $ 115.42 billion in FY21-22. Exports from india to china also increased from $ 21.18 billion to $ 21.25 billion. Similarly, imports increased from $ 65.21 billion to $ 94.16 billion.According to experts, trade between the two countries will continue to grow in the coming years as india and the united states take steps to strengthen economic ties. india is becoming a trusted trading partner internationally. international companies that have begun to reduce their dependence on china have turned their attention to imports from that country and the industry there to other countries, including India. Thus they said.
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US overtakes china in trade with India

Sowmiya Sriram

29/05/2022 03:04 PM