The United States remains India’s largest trading partner for the fourth consecutive year – 25: Government data

In the last fiscal year, India’s exports to the United States rose 11.6% to $86.51 billion, compared with $77.52 billion in 2023-24. |Photo source: Reuters

New Delhi

Government data shows that the United States remains India’s largest trading partner for the fourth consecutive year, with bilateral trade valued at $131.84 billion, while the country’s trade deficit expanded to $99.2 billion during the same period.

In the last fiscal year, India’s export revenue to China was 14.5% to US$14.25 billion, compared with US$16.66 billion in 2023-24. However, imports rose 11.52% in 2024-25 to $113.45 billion, compared with $1001.73 billion in 2023-24.

In the last fiscal year, the trade deficit with China increased by about 17% to $99.2 billion from $85.07 billion in 2023-24.

China continues to be India’s second largest trading partner, with two-way business of US$127.7 million in 2024-25, compared with US$118.4 billion in 2023-24.

According to the Ministry of Commerce, China was India’s highest trading partner in 2013-14 to 2017-18, and also in 2020-21. Prior to China, the UAE was the country’s largest trading partner. The United States has been the largest partner since 2021-22.

In the last fiscal year, the UAE had US$100.5 billion, which was India’s third largest trading partner.

In the last fiscal year, India’s exports to the United States rose 11.6% to $86.51 billion, compared with $77.52 billion in 2023-24. Imports rose 7.44% in 2024-25 to $45.33 billion, compared with $42.2 billion in 2023-24.

Trade surplus with the United States hit $41.18 billion in the previous fiscal year from $35.32 billion in 2023-24.

In 2024, India’s major exports to the United States include pharmaceutical formulas and biology ($8.1 billion), telecommunications instruments ($6.5 billion), precious and semi-precious stones ($5.3 billion) ($5.3 billion), petroleum products ($4.1 billion), gold and other precious metal jewelry ($3.2 billion), and products including cotton ($2.8 billion) (including $2.8 billion).

Imports include crude oil ($4.5 billion), petroleum products ($3.6 billion), coal, coke ($3.4 billion), shear and polished diamonds ($2.6 billion), electric motors ($1.4 billion), aircraft, spacecraft, spacecraft and parts ($1.3 billion) and parts ($1.3 billion) and gold ($1.3 billion).

As both are negotiating trade agreements, bilateral trade between India and the United States is expected to be promoted in the coming years. The goal is to increase the two-way commerce of goods and services from 2030 to the current $191 billion.