US-India Trade Relations Thrive Amidst Global Challenges

The US maintained its position as India's largest trading partner for the fourth consecutive year in 2024-25, with trade hitting USD 131.84 billion. Meanwhile, India's trade deficit with China expanded to USD 99.2 billion. Both export and import figures reveal significant shifts in trade relations.

In 2024-25, the United States cemented its status as India's largest trading partner, with bilateral trade reaching USD 131.84 billion. This marks the fourth consecutive year the US has held this position, despite challenges in global trade dynamics.

India's trade deficit with China, however, widened significantly, hitting a staggering USD 99.2 billion. This was due in part to a 14.5% decline in India's exports to China, coupled with an 11.52% rise in imports.

As both nations continue to face economic shifts, India and the US are in discussions to negotiate a new trade agreement aimed at boosting bilateral commerce to USD 500 billion by 2030, up from the current USD 191 billion.

(With inputs from agencies.)