America has emerged as India's largest trading partner in the financial year 2022-23. The increase in trade between the two countries comes at a time when ties between the US and India have grown stronger over the past few years.
According to data released by the Ministry of Commerce, trade between India and the US has increased by 7.65 percent to reach $ 128.55 billion in the financial year 2022-23, which was $ 119.5 billion in 2021-22. There, it was $ 80.51 billion in 2020-21.
Both imports and export increased in America
According to the data released by the ministry, India's exports to the US have increased by 2.81 percent to $ 78.31 billion in the financial year 2022-23, which was $ 76.18 billion in 2021-22. At the same time, imports have reached 16 percent to $ 50.24 billion. India's trade surplus with America in 2022-23 has been $ 28 billion.
Business with China dropped
There has been a decline in the business between India and China in 2022-23. It has fallen by 1.5 percent to reach $ 113.83 billion, while in 2021-22 the figure stood at $ 115.42 billion.
India's exports to China in 2022-23 have fallen by 28 percent to $15.32 billion as compared to 2021-22. At the same time, imports have increased by 4.16 percent to $ 98.51 billion. India's trade deficit with China has increased to $ 83.2 billion in 2022-23, from $ 72.91 billion in 2021-22.
Let us inform you, from 2013-14 to 2017-18 and in 2020-21, China was India's largest trading partner. Before China, UAE's name was at the top of the list of India's trading partners.
UAE, Saudi, and Singapore included in the top 5 trading partners
UAE was the third largest trading partner in 2022-23 with $76.16 billion, Saudi Arabia fourth with $52.72 billion, and Singapore fifth with $35.55 billion.
Sri Lanka: Sri Lanka did not allow the Chinese Navy ship to stop, Foreign Minister said - India's concerns are important
Sri Lankan Foreign Minister Ali Sabri said on Monday that his government has not allowed the Chinese ship to stop in Sri Lanka. Ali Sabri said that India's concerns are important for Sri Lanka. Let us
Covid: First case of corona reported in Odisha after two and a half years, 15 infected in Gujarat; three cases in Haryana
Coronavirus has started spreading in the country once again. The number of coronavirus infected is increasing in different parts of the country. In Odisha, a new case of Covid-19 was reported after
Mayank Yadav: IPL 2024 This is how Mayank Yadav was selected in Lucknow Supergiants, Delhi cricket legends revealed big secrets
IPL's new sensation Mayank Yadav may be being talked about all over the world for his speed, but there was a time when he used to come to practice in a carpool. Former DDCA selector and former player
There will be a long deliberation on the One Nation-One Election, JPC will also consult the Attorney General to know how much time it will take now.
The Joint Parliamentary Committee constituted for detailed deliberations on the One Nation, One Election Bill will consult Attorney General R. Venkataramani on the issue of holding simultaneous
Delhi Earthquake: A loud rumbling sound was heard in the ground during the earthquake, experts told the reason for this.
The earthquake that struck the capital Delhi on Monday morning shook many areas of North India including Delhi-NCR. There is no news of any damage from this earthquake yet, but many people say that
UP Budget 2025: Specialist doctors will be available, testing facilities will improve, health services will get wings
Health facilities in Uttar Pradesh will get wings. A provision of Rs 50550.42 crore has been made for the health sector in the budget. A recruitment board will be formed for the appointment of
Donald Trump: 'Everyone is happy...this is the 8th war I stopped', Trump again takes credit for the India-Pakistan ceasefire.
US President Donald Trump and 20 other top world leaders will attend a peace summit on the Gaza issue in Sharm el-Sheikh, Egypt, today. Prime Minister Narendra Modi was also invited by Egypt to attend
Delhi Government 100 Days: Delhi BJP's '100 days of service' program, Anupam Kher discussed with Rekha Gupta
On completion of 100 days of BJP-led Delhi government, the '100 Din Seva Ke' program has been organized. Delhi Chief Minister Rekha Gupta participated in the program organized at Jawaharlal Nehru
Israel-Hamas War: 'If needed, Israel will stand alone', Netanyahu said on US threat to stop arms
A fierce war has been going on in the Gaza Strip for more than seven months. Meanwhile, the Israeli army has said it has the necessary weapons to advance its attacks on Gaza's southern city of Rafah.
Israel-Hamas Conflict: Indian woman injured in Hamas attack on Israel, 10 Nepali citizens killed
An Indian woman is also among those injured in the Hamas terrorist attack on Israel. The woman is a resident of the Indian state of Kerala and has been living and working in Israel for the last
