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US Overtook China as India’s Biggest Trading Partner

Published on May 29, 2022
Current Context: According to recent data from the commerce industry the US surpassed China to become India's top trading partner in 2021-22, which is a result of strengthening economic ties between the two countries.
US Overtook China as India’s Biggest Trading Partner
  • 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
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