International Desk :
The US has become India's largest trading partner in 2021-22. Earlier China was the largest trading partner. This reflects the strong economic ties between the two countries. Trade experts believe that bilateral trade with the US will continue to grow in the coming years as India and the US continue to strengthen their economic ties.According to commerce ministry data, bilateral trade between the US and India stood at $119.42 billion in 2021-22. In 2020-21 it was $ 80.51 billion. Exports to the US increased to $76.11 billion in 2021-22 from $51.62 billion in the previous fiscal. Imports increased to $43.31 billion in 2020-21 as compared to about $29 billion.Khalid Khan, Vice President, Federation of Indian Export Organizations said, “India is emerging as a trusted trading partner and global companies are reducing their dependence on China for their supplies and expanding to other countries like India. .
In the coming years, bilateral trade between India and the US will continue to grow. India has joined the US-led initiative to establish an Indo-Pacific Economic Framework (IPF) and the move will help boost economic ties.
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