US surpasses China as India’s biggest trading partner in FY22 at $119.42 bn
The US surpassed China to become India’s top trading partner in 2021-22, reflecting strengthening economic ties between the two countries, Trend reports citing Business Standard. According to the data of the commerce ministry, in 2021-22, the bilateral trade between the US and India stood at USD 119.42 billion as against USD 80.51 billion in 2020-21. Exports to the US increased to USD 76.11 billion in 2021-22 from USD 51.62 billion in previous fiscal year, while imports rose to USD 43.31 billion as compared to about USD 29 billion in 2020-21. During 2021-22, India’s two-way commerce with China aggregated at USD 115.42 billion as