US largest trading partner of India with trade of $67.41 billion in April-October period: PM Narendra Modi and Joe biden
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US largest trading partner of India with trade of $67.41 billion in April-October period: Govt
Dec-06-2021 09:05 Hrs IST
The government has said that the US has once again emerged as the largest trading partner of India with bilateral merchandise trade of $67.41 billion during the April-October period this fiscal. Minister of State for Commerce and Industry Anupriya Patel has said 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.
She said ‘In the current 2021-22 (April- October), the US has once again become the largest trading partner with bilateral merchandise trade of $67.41 billion, accounting for 11.98 per cent of India’s total merchandise trade’. She also said that India’s bilateral trade with Australia has increased to $13.88 billion in 2021, from $7.48 billion in the corresponding period of 2020.
Similarly, the bilateral trade with UAE has grown to $49.06 billion in 2021, from $29.48 billion in 2020 for the same period. He added ‘The bilateral trade with Belgium has also grown to $13.70 in 2021, from $7.63 billion in 2020 for the same period’. Separately, Patel said the share of export of goods and services in GDP has increased to 18.7 per cent during 2020-21, over 18.4 per cent in 2019-20, and 21.7 per cent in 2021-22 (April-September) over 19.4 per cent in 2020-21 (April-September).
