US surpasses China to become India’s top trading partner
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The United States has surpassed China to become India’s top trading partner. It shows greater economic ties between the two countries. The trend is expected to continue in the coming years as India and the US are engaged in further deepening the economic ties.
Daily Current Affairs Quiz 2020
During April-December 2019-20, the bilateral trade between the US and India stood at 68 billion dollars against a nearly 65 billion dollars trade with China in the same period. America is one of the few countries with which India has a trade surplus. On the other hand, India has a huge trade deficit with China. In 2018-19, India has a trade surplus of 16.9 billion dollars with America, while it has a deficit of 53.6 billion dollars with the neighbouring country.