As per the latest report of the Global Trade Research Initiative, China has solidified its position as India’s primary trading partner, boasting a two-way commerce worth $118.4 billion in the fiscal year 2023-24. This places China marginally ahead of the US, which recorded bilateral trade with India at $118.3 billion during the same period. Notably, the US had held the title of India’s foremost trading partner in the preceding fiscal years of 2021-22 and 2022-23.
