The government on Friday said during the April-October period this fiscal, the US has once again emerged as the largest trading partner of India with bilateral merchandise trade of USD 67.41 billion. The US has been the largest trading partner of India with respect to merchandise trade since 2018-19, except in 2020-21, when trade with America declined marginally on account of the COVID-19 pandemic, Minister of State for Commerce and Industry Anupriya Patel said in a written reply to the Rajya Sabha.
“In the current 2021-22 (April- October), the US has once again become the largest trading partner with bilateral merchandise trade of USD 67.41 billion, accounting for 11.98 per cent of India’s total merchandise trade,” she said.
She also said that India’s bilateral trade with Australia has increased to USD 13.88 billion in 2021, from USD 7.48 billion in the corresponding period of 2020.
Similarly, the bilateral trade with UAE has grown to USD 49.06 billion in 2021, from USD 29.48 billion in 2020 for the same period.
Post time: Dec-06-2021