According to the Indian Economic Times website reported on May 12, data from the Economic Think Tank Global Trade Research Initiative show that China has become India's largest trading partner in fiscal 2024, bilateral, bilateral sides, bilateral sides, bilateral sides, bilateral sidesThe trade amount was $ 118.4 billion, surpassing the United States slightly.From 2023 to 2024, the bilateral trade volume of India and the United States was US $ 118.3 billion.Washington is the largest trading partner of New Delhi from 2021 to 2022 and 2022 to 2023.

The report said that the exports of China in the fiscal year in India increased by 8.7%to 16.67 billion US dollars.The main industries that exports to China include iron ore, cotton yarn/fabric, handmade fabrics, seasonings, fruits and vegetables, plastic and oil cloth.India's import trade volume increased by 3.24%to US $ 101.7 billion.

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report shows that at the same time, the exports of India to the United States in the fiscal year of 2023-2024 fell 1.32%to US $ 77.5 billion, and imports decreased by about 20%to 40.8 billion US dollars.

The Global Trade Research Initiative Organization said that from fiscal 2019 to fiscal year in fiscal year, India has undergone major changes in the trade situation of India and its largest 15 trading partners, affecting exports and imports, and trade surplus or deficit in various industries.

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Report also said that during this period, India's exports to China fell slightly by 0.6%to US $ 16.67 billion from US $ 16.75 billion, while China's imports increased from US $ 70.32 billion to US $ 44.7%to US $ 101.75 billion.

Ajay Sri Vasteava, the founder of the Global Trade Research Initiative, said: "Import growth has led to the expansion of trade deficit, from US $ 53.57 billion in fiscal 2019 to US $ 8509 billion in fiscal year."/Yang Xinpeng)