NEW DELHI: Data available with the
commerce ministry
also showed that China pipped the US to emerge as India’s largest
trading partner
during the last
financial year
. India’s trade with the US was estimated at $118.3 billion, compared with $118.4 billion with China.
During the previous year, India-US trade was estimated at $129.4 billion while bilateral trade with its northern neighbour was pegged at $113.8 billion.
It was the result of a 15.7% jump in
imports
from China to $101.7 billion, while
exports
increased by 3.8% to $16.7 billion.
In contrast, India’s exports to the US went up 17.7% to 77.5 billion, while imports were 6% higher at $40.8 billion. It said that “exponential growth” in exports was seen in the case of
Russia
, where the value of shipments went up 35%),
Romania
(139%) and Albania (235%).
