Brief by Shorts91 Newsdesk / 05:00pm on 12 May 2024,Sunday India Global
China overtakes the US as India's largest trading partner, with a two-way commerce of $118.4 billion in 2023-24, marking an 8.7% rise in Indian exports to China. Key sectors witnessing growth include iron ore, cotton yarn, and spices. Meanwhile, imports from China surge by 3.24% to $101.7 billion. UAE ranks as India's third-largest trading partner with $83.6 billion, followed by Russia ($65.7 billion), and Saudi Arabia ($43.4 billion). The US, with a bilateral trade of $118.3 billion, closely trails China, underlining evolving trade dynamics.
