India in trade deficit with nine of top 10 trading partners in 2023-24
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India recorded a trade deficit with nine of its top 10 trading partners in 2023-24, including China, Singapore, and the US. The trade deficit with China rose to USD 85 billion, Russia to USD 57.2 billion, Korea to USD 14.71 billion, and Hong Kong to USD 12.2 billion in 2023-24. China has emerged as India's largest trading partner with USD 118.4 billion of two-way commerce in 2023-24. India has a trade surplus of USD 36.74 billion with the US in 2023-24. India's total trade deficit in the last fiscal narrowed to USD 238.3 billion as against USD 264.9 billion in the previous fiscal.

#India #TradeDeficit #TradingPartners #China #Singapore #Us

https://m.economictimes.com/news/economy/foreign-trade/india-in-trade-deficit-with-nine-of-top-10-trading-partners-in-2023-24/articleshow/110437028.cms