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India-US trade rose by 8% in 2022-23, fell 1.5% with China

India-US. (File Photo: IANS)

New Delhi, April 16 (IANS) Bilateral trade between India and the US rose by almost 8 per cent to $128.55 billion in 2022-23, compared to $119.5 billion in 2021-22.

The growth in bilateral trade between the two countries is significant, considering the fact that in 2020-21, it was only $80.51 billion, according to Commerce Ministry data.

Exports to the US rose by 2.81 per cent to $78.31 billion in 2022-23 as against $76.18 billion in 2021-22, while imports grew by about 16 per cent to $50.24 billion.

At the same time, India’s bilateral trade with China fell by 1.5 per cent in 2022-23 to $114 billion, compared to $115 billion in 2021-22.

Exports to China fell by 28 per cent to $15.32 billion in 2022-23, while imports rose by 4 per cent to $98.51 billion in 2021-22.

Indian Abroad News Desk
Indian Abroad News Deskhttps://www.indianabroad.news
Indian Abroad is a news channel and fortnightly newspaper meant for Australia’s Indian community and, besides news, focuses on lifestyle subjects like health, travel, culture, arts, beauty, fashion, entertainment, Bollywood, etc. Our YouTube channel here features daily news bulletins besides infotainment videos on lifestyle subjects.

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