- Considering the statistics the trade between the US and India stood at $119.42 billion compared to $80.51 billion in 2020-21.
- Whereas on other side, two-way China stood at $115.42 billion as compared to $86.4 billion in 2020-21.
- Many experts believed that this sudden increase in bilateral trade with the US is due to strengthening the economic ties between both countries.
- Besides India has also joined an Indo-Pacific Economic Framework which helps boost economic ties further.
- For the past few years, India has had only a few countries with which it has surplus trade and the US was one of them.
- In addition to it UAE with $72.9 billion, was the third-largest trading partner of India followed by Saudi Arabia, Iraq, and Singapore.
Question:
Q.1 Which is the second-largest trading partner of India according to recent data from the commerce ministry?a. Singapore
b. Thailand
c. UAE
d. China
