China largest trading partner of India in FY24 with $118.4 bn; US second with $118.3 bn

Economy Business

China has emerged as the largest trading partner of India with $118.4 billion two-way commerce in 2023-24, slightly edging past the US, according to the data of economic think tank GTRI. The bilateral trade between India and the US stood at $118.3 billion in 2023-24. Washington was the top trading partner of New Delhi during 2021-22 and 2022-23. The data showed that India's exports to China rose by 8.7 per cent to $16.67 billion in the last fiscal. The main sectors which recorded healthy growth in exports to that country include iron ore, cotton yarn/fabrics/madeups, handloom, spices, fruits and vegetables, plastic and linoleum.


      China has emerged as the largest trading partner of India with $118.4 billion two-way commerce in 2023-24, edging past the US.

      India's exports to China rose by 8.7% to $16.67 billion in the last fiscal year

      Key sectors that saw healthy export growth to China include iron ore, cotton textiles, handloom, spices, fruits & vegetables, and plastics.

 

     


GTRI Founder: Ajay srivastava

Headquarters: New Delhi
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