US remains key forex source for India, accounts for 15-17% of goods exports

China remains the main source of India's imports, with the US at a distant fifth place

Topics
India trade | foreign exchange | US India relations

Indivjal Dhasmana  |  New Delhi 

The US remains a major source of foreign exchange earnings for India. Exports to US account for 15-17 per cent of India's total merchandise outbound shipments.

Though China is a distant second, it has improved its position from the fourth and third biggest export destination to the second for India. Also, China remains the main source of India's imports, with the US at a distant fifth place. Thorny issues: i) Withdrawal of trade concessions worth $5.6 bn by US from India under Generalised System of Preferences ii) Iconic American motorcycle ...

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First Published: Wed, January 20 2021. 18:33 IST
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