2024 Q1: India reports $72.1B trade surplus with 151 countries, faces $185.4B deficit with 75, including China ($41.9B).

In the first half of 2024, India reported a trade surplus with 151 countries, including the US and Netherlands, totaling $72.1 billion. However, it faced a significant trade deficit of $185.4 billion with 75 countries, notably China and Russia. The deficit with China was $41.9 billion, driven by high industrial goods imports. The Global Trade Research Initiative advises India to reduce reliance on imports from China to enhance economic sovereignty, while the US has become India's top trade partner.

September 01, 2024
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