Google News
logo
Daily Current Affairs
As of February, 2020, which country is India’s top trade partner?
A)
Russia
B)
China
C)
France
D)
United States

Correct Answer : Option (D) - United States


United States has surpassed China to become India’s top trading partner. According to the Commerce Ministry data, the bilateral trade between the US and India stood at nearly 88 billion dollars in 2018-19 fiscal. During the period, India’s trade with China was at 87.1 billion dollars. Similarly, during April-December 2019-20, the bilateral trade between the US and India stood at 68 billion dollars against a nearly 65 billion dollars trade with China in the same period. America is one of the few countries with which India has a trade surplus. On the other hand, India has a huge trade deficit with China. In 2018-19, India has a trade surplus of 16.9 billion dollars with America, while it has a deficit of 53.6 billion dollars with the neighboring country. The data showed that China was India’s top trading partner since 2013-14 till 2017-18.

Published On : July 16, 2021
Advertisement