US Became India’s biggest Trading Partner in FY23 Followed by China

US Became India’s biggest Trading Partner in FY23 Followed by China

Daily Current Affairs / US Became India’s biggest Trading Partner in FY23 Followed by China

Change Language English Hindi

Category : Business and economics Published on: April 19 2023

Share on facebook

US Became India’s biggest Trading Partner in FY23 Followed by China According to the data of the Ministry of Commerce, the United States (US) has emerged as India’s biggest trading partner in the financial year 2022-23 (FY23) at USD 128.55 billion followed by China in the second position at USD 113.83 billion.
The bilateral trade between India and the US has increased by 7.65% in FY23 due to increasing economic co-operation as against USD 119.5 billion in FY22. It was USD 80.51 billion in FY21.
Followed by US and China, the UAE with US$76.16 billion, was the third largest trading partner of India. It was followed by Saudi Arabia (US$52.72 billion), and Singapore (US$35.55 billion).
As per the Ministry of Commerce data, China was India’s top trading partner since FY14 till FY18 and also in FY21. Before China, the UAE was the India’s largest trading partner.

Recent Post's

Lt. Gen. Pushpendra Singh to take over as Vice Chief of Army Staff on Friday.
Read More....
Shubman Gill becomes highest run-scorer as Indian Test captain in a single series with 743 runs.
Read More....
From August 1, PSBs allowed to transfer unclaimed assets to IEPF under amended Banking Laws.
Read More....
Cabinet approves four multi-tracking railway projects worth ₹11,169 crore across six states.
Read More....
DPIIT signs MoU with Roche India to support healthcare startups in critical therapeutic areas.
Read More....
Eminent economist and author Lord Meghnad Desai passes away at age 85.
Read More....
ISRO scientist A. Rajarajan appointed Director of Vikram Sarabhai Space Centre from August 1.
Read More....
Khalid Jamil becomes first Indian in 13 years to be appointed head coach of Indian men's football team.
Read More....
Indian Navy receives third Project 17A stealth frigate ‘Himgiri’ from GRSE, Kolkata.
Read More....
World Breastfeeding Week 2025 to be observed from August 1 to 7 with focus on healthcare system support.
Read More....