US surpasses China as India’s biggest trading partner in FY22 at $119.42 bn

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NEW DELHI: The US surpassed China to become India’s top trading partner in 2021-22, reflecting strengthening economic ties between the two countries.
According to the data of the commerce ministry, in 2021-22, the bilateral trade between the US and India stood at $119.42 billion as against $80.51 billion in 2020-21.
Exports to the US increased to $76.11 billion in 2021-22 from $51.62 billion in previous fiscal year, while imports rose to $43.31 billion as compared to about $29 billion in 2020-21.
During 2021-22, India’s two-way commerce with China aggregated at $115.42 billion as compared to $86.4 billion in 2020-21, the data showed.
Exports to China marginally increased to $21.25 billion last fiscal year from $21.18 billion in 2020-21, while imports jumped to $94.16 billion from about $65.21 billion in 2020-21. Trade gap rose to $72.91 billion in 2021-22 from $44 billion in previous…

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