Does Trump know? US India's top trading partner, Russia only 4th behind China and UAE

U.S. Remains India’s Largest Trading Partner; Russia at 4th Position (FY 2023–24)

• Despite U.S. President Donald Trump imposing tariffs of up to 50% on Indian exports, the United States continues to be India’s largest trading partner, followed by China, UAE, Russia, and Saudi Arabia, according to trade statistics (FY 2023–24).
• India’s total merchandise trade (exports + imports) crossed $1.6 trillion in FY 2023–24.

India’s Top Trading Partners (2023–24)

1. United States– $71.39 bn
   • Imports from U.S.: crude oil, machinery, chemicals
   • Exports to U.S.: jewellery, textiles, gems, pharmaceuticals
2. China– $13.6 bn
   • Imports: chemicals, machinery, electronics
   • Exports: cotton, marine products, iron ore
3. United Arab Emirates (UAE)– $28.76 bn
   • Imports: natural gas, crude oil
   • Exports: rice, textiles, petroleum products
4. Russia– $44.37 bn
   • Imports: diamonds, fertilisers, military hardware, crude oil
   • Exports: tea, spices, pharmaceuticals
5. Saudi Arabia– $43.37 bn
   • Imports: natural gas, crude oil (trade deficit ~$28.93 bn)
   • Exports: rice, textiles, pharmaceuticals

Significance

• U.S. remains the top trade partner, despite tariff tensions.
• Russia has emerged as a key energy & defence supplier, ranking 4th.
• West Asian nations (UAE & Saudi Arabia) remain vital for India’s energy security.
• Trade diversification highlights India’s dependence on imports of energy, machinery, and raw materials, while exports remain strong in pharma, gems, textiles, and petroleum products.
  
  Updated - August 9, 2025, 1:43:48 PM | Forbes