China becomes India's biggest trading partner in first 9 months of FY21

Topics China | Chinese economy | Trading

while China has a huge trade surplus with India, the US has trade deficit with India
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.




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