China Becomes India's Top Trading Partner
Hindustan Times|September 16, 2022
China overtook the US to return as India's largest trade partner with $11.49 billion worth of goods traded in July, data released by the commerce ministry showed, underscoring the country's growing reliance on its northern neighbour.
Ravi Dutta Mishra & Dilasha Seth
China Becomes India's Top Trading Partner

In comparison, trade with the US stood at $11.08 billion in July, amid a demand slowdown and recession fears in the US.

The growth in trade with China is largely on account of a surge in imports and near-flat growth in exports to the US during the month. Exports to the US in July grew by 0.41% to $6.78 billion, while imports from China expanded by 45% to $10.2 billion.

The department of commerce had earlier contested China's official data that showed Beijing was India's largest trading partner in 2021-22. Delhi countered it, saying the US was India's largest trading partner that year.

The US, however, remained India's largest trading partner in the four months ended 31 July, with shipments worth $46.2 billion, more than China's $40.4 billion.

This story is from the September 16, 2022 edition of Hindustan Times.

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This story is from the September 16, 2022 edition of Hindustan Times.

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