After being relegated to the second spot in the previous two fiscal years, China again became India's biggest trading partner in the first nine months of FY21.
This was despite heightened tensions between the two countries. However, while China has a huge trade surplus with India, the US has trade deficit with India.
For instance, China imported goods worth $15.3 from India and exported goods worth $45.4 billion to India, leaving a surplus of $30.1 billion for the neighbouring country during April-December.
China was the biggest exporter of goods to India and the US the biggest importer from India in the first nine months of the current fiscal year.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU