US top trading partner of India for fourth straight year in FY25; trade gap with China widens to $99.2 billion

NEW DELHI : The US remained India’s largest trading partner for the fourth consecutive year in 2024-25 with bilateral trade valued at Rs 11,29,150 crore ($131.84 billion), while the country’s trade deficit with China widened to Rs 84,97,21,74,23,040 crore ($99.2 billion) during the same period, government data showed.

In the last fiscal, India’s exports to China contracted 14.5 per cent to Rs 1,22,065 crore ($14.25 billion) as against Rs 1,42,708 crore ($16.66 billion) in 2023-24. The imports, however, rose by 11.52 per cent in 2024-25 to Rs 9,71,846 crore ($113.45 billion) against Rs 8,71,449 crore ($101.73 billion) in 2023-24.

The trade deficit with China has widened by about 17 per cent to Rs 8,49,617 crore ($99.2 billion) in the last fiscal from Rs 7,28,734 crore ($85.07 billion) in 2023-24.

China continues to be the second largest trading partner of India with Rs 10,93,831 crore ($127.7 billion) two-way commerce in 2024-25 as compared to Rs 10,14,170 crore ($118.4 billion) in 2023-24.

According to the commerce ministry data, China was India’s top trading partner from 2013-14 till 2017-18 and also in 2020-21. Before China, the UAE was the country’s largest trading partner. The US has been the largest partner since 2021-22.