India-US bilateral trade to grow nearly 8% to $128.55 billion in 2022-23
Post Date – 11:15 PM, Sunday – 4/16/23
New Delhi: Bilateral trade between India and the US is up almost 8% to $128.55 billion in 2022-23, from $119.5 billion in 2021-22.
Considering that the bilateral trade volume in 2020-21 is only US$80.51 billion, the bilateral trade between the two countries has grown significantly, according to the Ministry of Commerce.
Exports to the US rose 2.81% to $78.31 billion in 2022-23, compared with $76.18 billion in 2021-22, while imports rose about 16% to $50.24 billion.
Meanwhile, India’s bilateral trade with China falls by 1.5% to $114 billion in 2022-23, from $115 billion in 2021-22.
Exports to China fell 28% to $15.32 billion in 2022-23, while imports rose 4% to $98.51 billion in 2021-22.
