America became India's largest trading partner in 2022-23, with China at number two; These countries are included in the top 5


Posted on 19th Apr 2023 10:20 am by rohit kumar

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.

 

Also Read: World Heritage Day: Buildings getting dilapidated under the protection of ASI, the heirs of history staring at the ruins

1 Like 0 Dislike
Previous news Next news
Other news

Gadar 2 Box Office Collection: The box office was also forced to kneel before 'Gadar 2', the collection crossed 250 crores

Gadar 2 Box Office Collection Day 6: Sunny Deol's film Gadar 2 is working as per its name. The fi

HanuMan: Union Home Minister Amit Shah met the team of 'Hanuman', posted and praised Prashant Verma-Teja Sajja

The film 'Hanuman' starring Teja Sajja, and directed by Prashant Verma, was a success at the dome

Chhath Puja 2023: Today is the second day of Chhath Puja, know the religious importance of Kharna Puja and the rules of Prasad.

Chhath Puja 2023: Chhath Puja fast has special significance in Sanatan Dharma. This special festi

Champions Trophy: 'I am not retiring from ODIs, please do not spread rumours', captain Rohit's reply to critics

After winning the ICC Champions Trophy for the third time by defeating New Zealand by four wicket

On the orders of CM Yogi, one lakh square meters land was freed from encroachment in Lucknow, and 1320 illegal constructions were demolished in Akbarnagar in 8 days

In perhaps the biggest action to date, one lakh square meters area of ​​the flow area of ​â

PM Modi Visit: PM Modi to be honored with Lokmanya Tilak Award, Sharad-Ajit Pawar seen on the same stage

Prime Minister Narendra Modi is on a visit to Pune city of Maharashtra today. Here he will lay th

Elvish Yadav: False publicity for reel and messing with police; Rajasthan police served notice to Elvish, know the matter

YouTuber Elvish Yadav, who is always in controversies, is again in the news due to another scanda

Nabanna Protest: What is Nabanna Abhiyan? To deal with this, Mamata government had to deploy 5000 policemen

Today (27 August), students will conduct Nabanna Abhiyan (Nabbana Protest) around the state secre

A large number of people showed interest in watching Tiger 3, is the film ready for an opening of Rs 100 crore?

After blockbuster films like 'Pathan' and 'Jawaan', people's eyes are now on 'Tiger 3'. Salman Kh

Canada: Demand for action against Khalistani Pannu for supporting Hamas, Hindu Forum made this appeal to the government

Recently, Khalistani terrorist Gurpatwant Singh Pannu threatened similar attacks on India by supp

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash