In FY24, China surpassed the US as India's largest trading partner with a volume of $118.4 billion.
China has become India's largest trading partner in FY24, with a two-way commerce volume of $118.4 billion, narrowly surpassing the US at $118.3 billion. India's exports to China increased by 8.7% to $16.67 billion, while imports from China rose by 3.24% to $101.7 billion. In contrast, exports to the US dropped by 1.32% to $77.5 billion, and imports to the US dipped by around 20% to $40.8 billion.
May 12, 2024
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