US becomes top trading partner

The US has surpassed China to become India’s top trading partner, showing greater economic ties between the two countries.

The bilateral trade between the US and India stood at $87.95 billion in 2018-19. During this period, India’s two-way commerce with China aggregated at $87.07 billion.

The previous year, bilateral trade between the US and India stood at $68 billion. It stood at $64.96 billion with China in the same period.

Trade experts believe that the trend will continue in the coming years as Delhi and Washington are engaged in further deepening the economic ties.

An expert said that if the countries will finalise a free trade agreement, then the bilateral trade would reach at different levels. “The FTA with the US will be very beneficial for India as the US is the biggest market for domestic goods and services,” said Ajay Sahai, director general of the Federation of Indian Export Organisations.

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