US high buying and selling accomplice of India for 4th straight 12 months in FY25; commerce hole with china widens to $99.2 bn

NEW DELHI: The US remained India’s largest buying and selling accomplice for the fourth consecutive 12 months in 2024-25 with bilateral commerce valued at USD 131.84 billion, whereas the nation’s commerce deficit with China widened to USD 99.2 billion throughout the identical interval, authorities knowledge confirmed. Within the final fiscal, India’s exports to China contracted 14.5 per cent to USD 14.25 billion as towards USD 16.66 billion in 2023-24. The imports, nevertheless, rose by 11.52 per cent in 2024-25 to USD 113.45 billion towards USD 101.73 billion in 2023-24.
The commerce deficit with China has widened by about 17 per cent to USD 99.2 billion within the final fiscal from USD 85.07 billion in 2023-24.
China continues to be the second largest buying and selling accomplice of India with USD 127.7 billion two-way commerce in 2024-25 as in comparison with USD 118.4 billion in 2023-24.
In keeping with the commerce ministry knowledge, China was India’s high buying and selling accomplice from 2013-14 until 2017-18 and likewise in 2020-21. Earlier than China, the UAE was the nation’s largest buying and selling accomplice. The US has been the most important accomplice since 2021-22.
Over the past fiscal, the UAE with USD 100.5 billion was the third largest buying and selling accomplice of India.
Within the final fiscal, India’s exports to the US rose by 11.6 per cent to USD 86.51 billion as towards USD 77.52 billion in 2023-24. The imports had been up by 7.44 per cent in 2024-25 to USD 45.33 billion towards USD 42.2 billion in 2023-24.
The commerce surplus with America has touched USD 41.18 billion within the final fiscal from USD 35.32 billion in 2023-24.
In 2024, India’s primary exports to the US included drug formulations and biologicals (USD 8.1 billion), telecom devices (USD 6.5 billion), treasured and semi-precious stones (USD 5.3 billion), petroleum merchandise (USD 4.1 billion), gold and different treasured metallic jewelry (USD 3.2 billion), ready-made clothes of cotton, together with equipment (USD 2.8 billion), and merchandise of iron and metal (USD 2.7 billion).
Imports included crude oil (USD 4.5 billion), petroleum merchandise (USD 3.6 billion), coal, coke (USD 3.4 billion), lower and polished diamonds (USD 2.6 billion), electrical equipment (USD 1.4 billion), plane, spacecraft and components (USD 1.3 billion), and gold (USD 1.3 billion).
The bilateral commerce between India and the US is anticipated to get a lift within the coming years as each are negotiating a commerce settlement. The intention is to extend two-way commerce in items and providers to USD 500 billion by 2030 from USD 191 billion at current.