America became India's largest trading partner

New delhi date. February 23, 2020, Sunday

Just before US President Donald Trump's two-day visit to India, the United States has achieved the feat of overtaking China and becoming India's largest trading partner. This highlights the importance of growing trade relations between the United States and India.

According to the Commerce Ministry data, bilateral trade of $ 87.95 billion was made between India and the US in FY 2018-19. India and China's bilateral trade during the same period stood at $ 87.07 billion.

Similarly, the bilateral trade between India and the United States during April-December of the financial year 2019-20 stood at $ 68 billion while the bilateral trade between India and China during this period was $ 64.96 billion.

Business experts believe that this is likely to be the case in the near future as India and the United States are trying to boost economic ties. In this series, American President Trump's two-day visit to India is considered very important.

According to another expert, if the two countries sign a Free Trade Agreement (FTA), then bilateral trade will reach a different level. Director General of Indian Export Association Ajay Said said that FTA with the United States would be very beneficial for India as the US is the largest market for Indian goods and services.