U.S. remains India’s largest trading partner for fourth consecutive year in 2024 -25

U.S. remains India’s largest trading partner for 4th consecutive year (2024–25)

• As per Commerce Ministry data, the U.S. retained the top spot as India’s largest trading partner for the 4th year in a row in FY 2024–25 with bilateral trade of $131.84 billion.
• India’s exports to the U.S.: up 11.6% to $86.51 bn (from $77.52 bn in 2023–24).
• Imports from the U.S.: up 7.44% to $45.33 bn (from $42.2 bn in 2023–24).
• Trade surplus with the U.S.: widened to $41.18 bn (from $35.32 bn).

Key Exports to U.S. (2024):

• Drug formulations & biologicals ($8.1 bn)
• Telecom instruments ($6.5 bn)
• Precious/semi-precious stones ($5.3 bn)
• Petroleum products ($4.1 bn)
• Jewellery, garments, iron & steel products

Key Imports from U.S. (2024):

• Crude oil ($4.5 bn), petroleum products ($3.6 bn)
• Coal & coke ($3.4 bn), diamonds ($2.6 bn)
• Electric machinery ($1.4 bn), aircraft parts ($1.3 bn), gold ($1.3 bn)

China

• Remained 2nd largest partner: $127.7 bn trade (up from $118.4 bn in 2023–24).
• Exports to China fell 14.5% to $14.25 bn.
• Imports rose 11.5% to $113.45 bn.
• Trade deficit with China widened to $99.2 bn (from $85.07 bn).

UAE

• 3rd largest partner: $100.5 bn in 2024–25.

Trend:

• U.S. has been India’s top trading partner since 2021–22 (earlier China, and before that UAE).
• India & U.S. are negotiating a trade agreement to raise bilateral goods & services trade to $500 bn by 2030 (from $191 bn now).
  
  Updated - April 16, 2025 12:18 pm | The Hindu