US Remains India's Top Trading Partner

• 15 Jul 2020

• The US remained India's top trading partner for the second consecutive fiscal in 2019-20 according to the data of the Commerce Ministry.
• The US is one of the few countries with which India has a trade surplus.
• The trade gap between the countries has increased to $17.42 billion in 2019-20 from $16.86 billion in 2018-19.
• In 2018-19, the US first surpassed China to become India's top trading partner.
• The bilateral trade between India and China has dipped to $81.87 billion in 2019-20 from $87.08 billion in 2018-19. Trade deficit between the two neighbours have declined to $48.66 billion in 2019-20 from $53.57 billion in the previous fiscal.
• The data also showed that China was India's top trading partner since 2013-14 till 2017-18. Before China, UAE was the country's largest trading nation.