New Delhi, Data published by Union Ministry of Commerce, United States of America remained India’s top trading partner for the second straight fiscal year 2019-20. Data shows increasing economic ties between the USA and India. further, the bilateral trade between the USA and India has increased from USD 87.96 billion in 2018-19 to USD 88.75 billion in the financial year 2019-20. Mainland China was India’s top trading partner since 2013 to 2018.
Ministry of Commerce and Industry data indicates that USA is one of the few nations with which India has a trade surplus as the trade gap between the nations has increased from USD 16.86 billion in 2018-19 to USD 17.42 billion in 2019-20. 2020 data also disclose that the bilateral trade between India and Mainland China has dipped from $87.08 billion in 2018-19 to $81.87 billion in 2019-20.
US continue India top trading partner US continue India top trading partner